Tax Deadlines Approaching

Tax season is right around the corner. “Producers are always thinking about tax planning this time of the year,” said Ron Haugen, farm management specialist, NDSU Extension. “Really, producers should think about tax planning throughout the year. When you do tax planning, it’s always best to make a good estimate of what your income and expenses will be for the year and also estimate your depreciation.” There are some important dates coming up for farmers to remember. “March 2nd of 2026, they can file the returns without any penalties if they don’t have to do any withholding or make any deposits. If they have their taxes roughed out and they know if they owe, they can make a deposit by January 15th and then they’re allowed to file by April 15th with everybody else.”