FARM BUSINESS NEWS
IRS Targets "Passive" Landowners
Marcia Zarley Taylor DTN Executive Editor
Mon Jun 16, 2014 02:10 PM CDT

HADDONFIELD, N.J. (DTN) -- The Eighth Circuit U.S. Court of Appeals heard oral arguments in a landmark tax case last week that would not only set a precedent for absentee landowners with Conservation Reserve Program contracts, but could potentially redefine tax treatment of cash rents, conservation easements and other types of passive income if allowed to stand, farm managers and legal scholars say.

REVERSING A PRECEDENT

The appeal of a 2013 Tax Court ruling in Morehouse v. Commissioner seeks to eliminate the IRS position. In the initial case, the Tax Court ruled taxpayers could be subject to self-employment taxes simply ...

Quick View
  • Stay on Top of SDS The distinctive yellow patches of sudden death syndrome (SDS) are surfacing in soybean fields acr...
  • Ample Stocks Ahead Drought recovery in many areas has led to higher stocks, brighter production prospects and modera...
  • Precision Ag Potential Pending Precision agriculture proponents insist the industry can revolutionize agriculture, but first mor...
  • Cash Rent Reset - 2 Iowa farmland owners Fred and Lodean Cook may consider flexible cash leases for the first time th...
  • Iowa Land Gets a Bounce Key Midwest land values are stuck in neutral or sliding below 2014 levels, recently released opin...
  • Canadian Dairy Conundrum Coping with Canada's dairy industry import tariffs and supply controls remains one of the stickin...
  • Klinefelter: By the Numbers Deteriorating profit margins flip the fortunes of big renters and conservative owner-operators. I...
  • Training for Sustainability The Hmong American Farmers Association is helping producers who migrated to the United States fol...
  • Ask the Vet What are these crusty scabs on my cattle?
Related News Stories
Taxlink by Andy Biebl
Senior Partners - 4
Senate Panel OKs Tax-Extenders Bill
Taxlink by Andy Biebl
Taxlink by Andy Biebl
Ask the Taxman by Andy Biebl
Taxlink by Andy Biebl