You may be able to claim a tax credit for each of your qualifying children under the age of 17. See your income tax package for details. When you figure your estimated tax, you must include any alternative minimum tax you expect to owe. See chapter 14 and Publication 505 . Averaging of farm income.
Individual farmers can choose to average all or part of their taxable farm income.
See chapter 4 . You can request income tax withholding from the following payments on Form W-4V, Voluntary Withholding Request. Certain crop disaster payments received under the Agricultural Act of 1949 or title II of the Disaster Assistance Act of 1988. Social security benefits. Certain other government payments.