We require estimated tax payments when the taxes owed after the deduction of credits and withholding is more than $500. Publication 1 describes when a taxpayer must make estimated taxes.
You do not need to make estimated tax payments if you derive at least 2/3 of your gross income from farming or ranching operations. If estimated tax payments aren’t required, there cannot be an underpayment and no interest is due.
Be sure to mark the “2/3 farming gross income” box on the Contributions, Penalties and Interest Schedule, line 3 when claiming the exemption to pay estimated taxes for farmers and ranchers.