Source: Jacqui Fatka, FARM PROGRESS, 9/30/21


For months farmers have been concerned about proposed tax changes, including the elimination of stepped-up basis. New research from USDA’s Economic Research Service confirms those concerns are warranted as nearly 20% of farms could have an increased tax liability, including 65% of the value of U.S. farm production. Although farmers breathed a sigh of relief when the initial tax changes out of the House Ways and Means Committee did not include a change in stepped-up basis...

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