Source: FARM PROGRESS, 4/29/21


In a joint session address to Congress, President Joe Biden focused on continued calls to “build back better” and to pay for many of his priorities with tax reform. The American Families Plan encourages family farms to stay in the family and does not tax farm and asset transfer to family members upon death, but there are still concerns from farm groups on the impact to those in rural America. The American Families Plan would repeal the deferral of gain for real estate like-kind exchanges – also known as 1031 exchanges- for gains greater ...

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