Treasury Department

Farmers and ranchers who have been following the changes to beneficial ownership filing requirements may soon have a final decision and possibly some relief. Dustin Sherer, director of government affairs for the American Farm Bureau Federation, said the Financial Crimes Enforcement Network recently announced it won’t fine or penalize American companies who fail to file, and an interim rule is in t

Biden administration officials won’t finalize guidelines on new clean fuel production tax credits intended for the airline and biofuel industries before the officials leave office in January.  Three sources told Reuters that casts significant doubt on the future of a key piece of the president’s climate goals.  The tax credit...

The Internal Revenue Service released its final rule on how farm income from cooperatives will be handled for tax purposes. The Hagstrom Report says the regulation has been a source of dispute since Congress passed the 2017 Tax and Jobs Act ...

The National Council of Farmer Cooperatives is optimistic that IRS officials will adjust the Section 199A tax break, thanks to testimony from the Treasury Secretary. For more than two years, farmer cooperatives have been working to re-implement a tax deduction comparable to what they received before the 2017 tax law was passed ...