Articles regarding tax issues.
Republican, Democratic Lawmakers Unite With Farmers on Stepped-Up Basis
Lawmakers from both sides of the aisle are joining farmers and ranchers in calling for the preservation of stepped-up basis
Elimination of Stepped-Up Basis a Threat to Future Generations of Family Farmers
Stepped-up basis allows a farmer to pay capital gains taxes only on the property’s increase in value since the land was inherited, not on the full increase in value since it was purchased by that farmer’s parents or grandparents.
Elimination of Stepped-up Basis Poses Hazards to Family Farms
Potential Capital Gains Taxes Are Significantly Larger than Cash Rental Rates
Legislation Clarifies Congressional Intent on PPP Eligibility for Farm Partnerships
Two new Farm Bureau-backed bills would make farm and ranch partnerships eligible for Paycheck Protection Program loans.
Farm Bureau Applauds Introduction of Estate Tax Repeal Bills
Farmers and ranchers already face unpredictable challenges beyond our control yet persevere to protect our nation’s supply of food, fiber and renewable fuel.
Coronavirus Aid Package Includes Important PPP Changes for Farmers
The recently signed Coronavirus aid package includes important benefits for American farmers.
Farm Bureau Asks Congress to Act Quickly on PPP Fix
The American Farm Bureau Federation is asking Congress to tweak the Paycheck Protection Program to ensure farmers and ranchers don’t have to pay taxes on their forgiven PPP loans.
Estate Taxes Are A Threat to Family Farms
When estate taxes on an agricultural business exceed cash and other liquid assets, surviving family partners may be forced to sell land, buildings or equipment needed to keep their businesses running.
Federal Spending Bill Repeals HIT, Extends Key Tax Provisions
Legislation to fund the U.S. government in 2020 included several tax provisions important to farmers and ranchers.