Working with a Tax Professional
This article will share steps a farmer/rancher can take to get the best value from that service and ensure a strong working relationship with their tax professional.
Tribal Tax Information
There are some conditions that will allow income from farming and ranching to be exempt from federal income and self-employment taxes for farming on trust property. However, not all tribal members will meet those conditions. This page contains some useful information about issues specific to tribal tax.
Tax Topics:
Form 1099 Information Returns
Form 1099 is used to report various forms of income other than wages, salaries, and tips to the Internal Revenue Service (IRS) and to the recipient of the payment. Agricultural producers may both receive Form 1099 information returns and be required to is...
Taxability of USDA Discrimination Financial Assistance Program Awards Resulting from the Inflation Reduction Act of 2022
The Inflation Reduction Act (IRA), [P.L. 117-169], included a provision under section 22007 of the Act authorizing USDA to address issues of past discrimination in the Department’s farm lending programs. Under the resulting program, the Discrimination Fin...
When is Tribal Farm and Ranch Income Exempt from Federal Taxes?
There are some conditions that will allow income from farming and ranching to be exempt from federal income and self-employment taxes for farming on trust property. However, not all tribal members will meet those conditions.
Farm Loan Immediate Relief for Borrowers with At-Risk Agricultural Operations
The Inflation Reduction Act of 2022 was signed by the President in August. The act, through Section 22008, repealed the Farm Loan Assistance Section 1005 of the American Rescue Plan of 2021 (ARP). Section 1005 of ARP was replaced with Section 22006, Farm ...
See All Tax Topics Tax Estimator IRA Assistance Information
Webinars:
Other Resources:
- IRS FAQ: What is the Significance of Land Held Trust
- Intertribal Ag Council
- Indigineous Food and Agriculture Initiative
List of Authority:
- Revenue Ruling 69-289, 1969-1 C.B. 34
- Revenue Ruling 67-284, 1967-2 C.B.55
- The General Allotment (Dawes) Act of 1887
- Squire v. Capoeman, 351 U.S. 1 (1956)
- Title 25 USC Par. 349
- Rev. Rul. 56-342, 1956-2 C. B. 20
- Rev. Rul. 62-16, 1962-1 C. B. 7
- Rev. Rul. 2006-20
- Revenue Ruling 57- 523, C. B. 1957-2, 51
This information is intended for educational purposes only. You are encouraged to seek the advice of your tax or legal advisor, or other authoritative sources, regarding the application of these general tax principles to your individual circumstances. Pursuant to Treasury Department (IRS) Circular 230 Regulations, any federal tax advice contained here is not intended or written to be used, and may not be used, for the purpose of avoiding tax-related penalties or promoting, marketing or recommending to another party any tax-related matters addressed herein.