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Wow - The IRS has collected $172 million from Taxpayers Who did not File Returns
Earlier this year the IRS launched an initiative to collect taxes from wealthy taxpayers who did not file returns.
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Paul Neiffer
Reminder Final Extended Tax Returns Due Tomorrow
Just a reminder that extended personal returns are due tomorrow, October 15, 2024
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Paul Neiffer
Farm Debt Rises in Latest Quarter
The KC Federal Reserve released their latest Ag Finance Update and farm debt has risen, but delinquencies are low
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Paul Neiffer
Another Syndicated Conservation Easement Bites the Dust
The US Tax Court released the JL Minerals case yesterday and dropped the deduction from $16.745 million to less than $100,000.
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Paul Neiffer
How Much Would the Deficit Increase Under Harris and Trump Proposals
The Committee for a Responsible Federal Budget released their estimates of how much the deficit would increase under both candidates. It is not pretty.
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Paul Neiffer
Corporate Transparency Act Appeal Reaches the 11th Circuit
The appeal of the CTA being ruled unconstitutional has reached the 11th Circuit Court
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Paul Neiffer
Likely Not All Crop Insurance Proceeds Can be Deferred This Year
A farmer who qualifies can elect to defer crop insurance proceeds for one year after damage, but not for the portion related to price.
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Paul Neiffer
Pay Your Kids a Wage
There are a lot of tax benefits to paying children appropriate wages for their work on your farm.
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Paul Neiffer
IRS Provides List of Counties That Qualify for Another Year Deferral due to Drought
Section 1033 allows ranchers four years to replace livestock sold due to drought. This time can be extended, and the IRS issues a list of counties that…
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Paul Neiffer

September 2024

Is ERP 2023 Coming?
Two Congressman from California introduces an Act for "ERP" 2023
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Paul Neiffer
Will 1031 Exchanges be Limited if Harris is Elected
It appears that Vice President Harris will recommend the Biden proposal on Section 1031 exchanges.
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Paul Neiffer
Vice-President Harris Suggests a Standard Deduction for Small Business
A standard deduction for small business may help some but likely will not help many farmers.
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Paul Neiffer
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