Ag Docket

Potential tax changes dominated most 2021 tax discussions. Proposals such as the American Families Plan sought to significantly increase the capital gains tax rate and require recognition of capital gain at death or at gift.

IRS announced January 10 that it will begin accepting and processing 2021 tax year returns for individuals beginning January 24, 2022. IRS began accepting e-filed business returns on January 7, 2022.

Like 2020 before it, 2021 was no ordinary year. As we leave the year behind, we review key tax considerations arising from 2021’s unique circumstances and look ahead to the 2022 tax filing season.

With high crop yields and robust commodity prices, many farmers are closing 2021 with more income than they expected. Likewise, input costs for 2022 are on track to reach record highs.

Many farmers regularly and generously give to their churches or other charitable organizations.

We frequently receive questions about depreciating and expensing business vehicles. This post provides a brief summary of the general rules for 2021.

Rural landowners are sometimes asked to enter into an agreement to allow a developer to run a pipeline or power lines across their property. These are important decisions with permanent consequences.

Update: USDA unveiled the Emergency Livestock Relief Program (ELRP) and Emergency Relief Program (ERP) in April and May of 2022.

On August 4, 2021, Summit Carbon Solutions, LLC, initiated the legal process to build a proposed 710-mile carbon sequestration pipeline through 30 Iowa counties by filing a request for public informational meetings with the Iowa Utilities Board.

As many taxpayers are working to finalize extended returns, many in Congress are working to finalize language for tax reform legislation. Here we provide a brief update on the status of tax reform and what we may expect in the next several weeks.

The American Rescue Plan Act of 2021 (ARPA), Pub L. No.

For tax years beginning in 2021, the American Rescue Plan Act (ARPA) significantly expanded the child tax credit.

The employee retention credit (ERC) has been an important tax credit for many employers in 2020 and 2021. Although a fairly complicated credit, the ERC can be very beneficial to many employers.

On August 10, 2021, the United States Court of Appeals for the Eighth Circuit considered the constitutionality of Iowa’s 2012 “Agricultural Production Facility Fraud” law (2012 law), sometimes called an “ag-gag” law.

Update: On March 31, 2023, the Eastern District of Arkansas granted one of the defendant’s Rule 12(b)(6) motion to dismiss for failure to state a claim.