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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">The IRS recently announced that it is extending the due date for farmers and fishermen to file their 2018 returns with full payment of tax in order to avoid the
underpayment penalty. Because Oregon doesn’t impose underpayment interest if at least two-thirds of the taxpayer’s income is from fishing or farming (including oyster farming), a similar extension for Oregon isn’t needed.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Under ORS 316.573, taxpayers who qualify as farmers or fishermen aren’t required to make estimated tax payments at all. These taxpayers simply enter exception
1 on their return when they file. For 2018, an exception is entered on Form OR-40, box 40a; Form OR-40-N, box 66a; or Form OR-40-P, box 65a.
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