The beginning of a new year is a great time to think about estate and succession planning for your farm or business. Here we consider 12 common mistakes we encounter in this area and why they matter.
The Tax Cuts and Jobs Act (TCJA) allowed 100 percent bonus depreciation under I.R.C. § 168(k) through 2022 for qualifying property acquired and placed in service after September 27, 2017.
On January 7, 2026, the Iowa Court of Appeals ruled that minority shareholders in a family farming corporation did not prove oppression or breach of fiduciary duty by the majority shareholders.
The IRS announced today that filing season for 2025 individual tax returns will begin Monday, January 26, 2026.
On Wednesday, December 31, 2025, the IRS issued proposed regulations, REG-113515-25, for the new deduction for “qualified passenger vehicle loan interest” under I.R.C. § 163(h).
Last week, the USDA announced that it would provide $12 billion in one-time bridge payments to eligible farmers impacted by market disruptions and increased input costs.
The recent 43-day federal government shutdown ended on November 12, after Congress passed H.R.
When the federal government shut down on October 1, the U.S. Department of Agriculture (USDA) suspended most regular operations across its agencies and began operating on a very limited basis.
Update: H.R. 5371 reauthorized CRP through September 2026.
On December 21, 2024, President Biden signed into law the American Relief Act of 2025, P.L. 118-158, which—in addition to extending the Farm Bill—allocated $30.78 billion to the USDA for farm relief.
On July 4, 2025, the President signed H.R. 1, the One Big Beautiful Bill Act into law. In addition to its many other sections, this so-called “mega bill” enacts many provisions typically authorized and funded through a farm bill.
On July 4, 2025, H.R. 1, the One Big Beautiful Bill Act, became law. This 887-page Act impacts taxes, agriculture, transportation, education, homeland security, armed services, energy, financial services, immigration, natural resources, and more.
Iowa's 2025 legislative session ended on May 15, 2025. Below is a summary of legislative activity of interest to farmers and rural landowners. While most bills will be effective July 1, 2025, several have already gone into effect.
On May 22, 2025, the House of Representatives passed H.R. 1, the One Big Beautiful Bill Act, by a vote of 215-214.
Early on May 22, 2025, the House of Representatives passed H.R. 1, the One Big Beautiful Bill Act, by a vote of 215-214.
The New Producer Economic Security Act [1] (H.R.2536, S.1237) was introduced in both the U.S. House and Senate on April 1, 2025.
With the initial filing deadlines behind us for filing our federal income tax returns, I turn today to a common question we receive at the Center. Has anything changed with respect to reporting CRP income?
When the IRS issued guidance for the employee retention credit (ERC), it instructed taxpayers to reduce the wage expense on their business tax returns at the time they claimed the credit. See IRS Notice 2021-20.
Update: On June 4, 2025, USDA updated its guidance on the gross income calcluation.This updated guidance resolves the inconsistencies addressed below.
To help you stay abreast of the ever-changing status of the Corporate Transparency Act's beneficial ownership information reporting requirements, we're providing a timeline. Stay tuned for further updates!
March 21, 2025
