IRS extends relief for disaster affected livestock producers


By Julie Harke, Brownfield

October 4, 2019


The Internal Revenue Service says it has extended tax relief for farmers and ranchers who were forced to sell their livestock because of drought, flooding or other severe weather in recent years.


The IRS says most farmers will have until the end of their NEXT tax year to replace their livestock and defer on any gains from the forced sales. The original deadline was December 31st of this year.


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