Agribusiness Blog
AUGUST 24, 2022
The IRS released Notice 2022-36 providing automatic relief for almost all 2019 and 2020 tax returns filed late. However, if you have not filed yet, you need to file by September 30, 2022 to get automatic relief. The returns covered by this relief is very broad. For example all Form 1040s, Form 1041 – trust returns, From 1065 – partnership returns, 1120 and 1120-S – corporate tax returns.
Caff
AUGUST 23, 2022
On behalf of Community Alliance with Family Farmers, it is our honor and privilege to recognize the enduring commitment of Terry and Carolyn Harrison to our organization’s mission. As we approach CAFF’s 45th anniversary, we’ve been looking back on our legacy and all the people who’ve helped make it possible. From working to give voice to small farms when they go otherwise unheard to persistently urging our leaders to take action in our fight against climate change, Terry and Carolyn’s ongoing pa
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The Lunatic Farmer
AUGUST 23, 2022
Pictures of dead livestock in Africa break our hearts. The remedy apparently is grain purchased from Ukraine with American worthless dollars to help feed the starving people who now don’t have livestock to eat because those already starved. As I look at these depressing pictures of skinny farmers crying over their dead cows and sheep, it’s hard to rein in my emotions.
Agribusiness Blog
AUGUST 23, 2022
It appears that the FSA is allowing farmers who currently do not meet the more than 75% farm AGI definition to appeal the determination with the local FSA office. Senator Hoeven released a press release on this process last week. We have not determined exactly how this process works. We have heard that you appeal it directly to the County Committee who then either pushes it up to the state level for review and then onto the federal office for further review or it skips the state office level rev
Caff
AUGUST 22, 2022
Today the USDA halted an Almond Board rule change that would have prohibited direct online sales of raw almonds, which farmers had previously been pursuing as part of the roadside stand and farmers’ market exemption. When these direct-to-consumer exemptions were initially created there was no internet and so farmers hadn’t yet incorporated internet technology into their marketing nor had ecommerce been explicitly included in these exceptions. “CAFF thanks USDA Undersecretary Je
Agribusiness Blog
AUGUST 21, 2022
In our post from last week we indicated to get the maximum 30% tax credit for qualifying projects that you needed to pay prevailing wages and have a registered apprenticeship program. After reading the Act in even more detail, it appears that these requirements do not apply to any facility with an output less than 1 Megawatt which is a large facility.
Agribusiness Blog
AUGUST 21, 2022
Many farm supply dealers are approaching a common 8/31 year end. They are also approaching some unexpected consequences of high input purchasing costs last fall/winter coupled with the steep decline in summer market pricing. Thanks to Todd Etheridge, Agribusiness Principal in our Central Illinois office, who raised this issue and provided the content of this post.
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