NCBA Stands Ready to Fight for Sound Tax Policy

In his American Families Plan, President Biden targets several provisions of the tax code to raise approximately $1.5 trillion in revenue over the next ten years. The National Cattlemen’s Beef Association said those provisions must not burden the nation’s farmers and ranchers. Biden’s plan would repeal the deferral of gain for real estate, like-kind exchanges […]

President Biden’s Tax Proposal Concerning For AFBF

A trio of new tax hikes for farmers and ranchers, that’s how the American Farm Bureau’s tax adviser describes President Joe Biden proposal to pay for infrastructure and social packages. During last week’s joint session of Congress, the President said: “We’re going to get rid of the loopholes that allow Americans to make more than […]

Newton: Without Stepped-Up Basis Farm, Taxes Will Rocket Higher

Ask the American Farm Bureau Federation, they’ll tell you a proposal to eliminate the stepped-up basis in agriculture would have a costly impact on farmers nationwide. AFBF chief economist John Newton said tax policy is important in helping farmers pass their operations on to future generations. “To reduce the capital gains tax, farmers and ranchers […]

Oregon Wine Industry Facing Potential 1,700% Tax Increase

Lawmakers in Oregon have proposed raising taxes on the wine industry. The increase works out to a 1,700% increase, which comes out to roughly $2.00 per bottle. Elin Miller, with the Oregon Wine Council, said after the challenges of 2020, not only the pandemic, but devastating wildfires and smoke taint, this increase will hit the […]

AARP: Unemployment Fraud A Concern At Tax Time

It’s tax filing season, which means sorting through forms and paperwork. This year, preparing to file may take an unexpected twist for people who suddenly discover they have a Form 1099-G listing the unemployment benefits they received; only they never applied for or received the benefit. The AARP’s Sean Voskuhl said this is happening across […]

Wolff Expects Taxes To Be Big Issue In DC In Coming Years

One of the first questions about a new administration in Washington, D.C., is what changes can the farm community expect when it comes to tax policy? Pat Wolff, Senior Director of Congressional Relations with the American Farm Bureau Federation, said there she expects to see “big tax legislation” fairly soon, maybe in the first six […]

AFBF Asks Congress To Ensure PPP Loans Are Not Taxed

The American Farm Bureau Federation recently sent a letter to Congress asking them to ensure farmers won’t pay taxes on forgiven Paycheck Protection Program loans. AFBF Senior Congressional Relations Director Pat Wolff said an IRS regulation means small businesses and farms would face a tax burden for using PPP funds. “Congress needs to act, or […]

Coops Call On Administration To Withdrawal Tax Increase

The farmer cooperatives want the Trump administration to withdraw proposed tax rules that they say would raise taxes on farmers and ranchers nationwide. On Thursday, the Executive Council of the National Council of Farmer Cooperatives asked the Treasury Department and the Office of Management and Budget to withdraw a proposal that would implement Section 199A(g) […]

Farmers, AFBF Looking For Changes To PPP

Congress is considering changes in the next round of the Paycheck Protection Program, and the American Farm Bureau seeks “corrections” allowing farmers to better participate. “We expect the House to take up a bill this week,” said AFBF Congressional Relations Director R.J. Karney. “The Senate is expected to vote on its bipartisan bill shortly after […]