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 ...

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