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Form 3800

As a farmer who does not pay quarterly taxes, I am required to file my federal tax return before March 1.    When I get to the point of e filing, Turbo Tax will not let me file because Form 3800 is not available until March 10, 2022.  

 

That is unacceptable.   I will be charged a penalty for late filing.  

 

Is there anyone else out there experiencing the same problem?

 

Please advise!

 

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3 Replies
DavidD66
Expert Alumni

Form 3800

You could file without Form 3800 and then file an amended return, or you can wait until the form is available.

 

If you are a qualifying farmer, you have to file and pay any tax due by March 1 to avoid an underpayment of tax penalty.  If you don't file and pay by March 1, then you may be subject to an underpayment penalty; however, the April 18th filing deadline is still applicable and your return will not be late unless you fail to file your return, or an extension by that due date.

 

The penalty for underpayment of estimated tax equals the amount of the underpayment for the period of underpayment multiplied by the applicable underpayment rate, which is three percentage points above the federal short-term interest rate. IRC § 6621(a)(2). IRS determines this rate every quarter, but the rate that applies to a calendar-year qualifying farmer’s underpayment is the rate for the first quarter of the year following the tax year under which the tax liability arose. Because the federal short term interest rate for quarter one of 2021 was zero, the penalty rate for the first quarter of 2021 is three percent.

 

For example, lets say you owe $14,000 in tax and don't pay until April 18:

 

$14,000 (estimated tax liability) x 90/365 (days delinquent / days in the year) x .03 (underpayment rate) = $104.

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Form 3800

Turbo Tax will not let me get past this page, until the Form 3800 is available.   I am blocked from e filing!   That's the problem.   I only have one more day to file and am not able to proceed!

 

Please advise!

Form 3800

Yes, the Intuit Developers have a particular dislike towards farmers (and Alaskans) this year.

 

Best option is to use other software that actually has the forms finished on a timely basis.

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