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
  • The New Dicamba At an event exhibiting the company's soon-to-arrive Dicamba-tolerant soybean trait, Monsanto repr...
  • Rates Too Low Too Long Discounted interest rates have led to unintended consequences in land values, a shortage of funds...
  • Center Pivots Take a Beating Severe storms in mid-June have damaged hundreds of center pivot irrigation systems in Nebraska al...
  • "Easy Money Times Over" Feeding the world population won't be as hard as expected over the next decade some experts forec...
  • A Hunger for High-Tech The Gruhlkey brothers of Wildorado, Texas, are using technology and thoughtful cropping choices t...
  • Clearing the Air EPA Administrator Gina McCarthy told a group of agribusiness representatives that her agency want...
  • No More Outlaw Vets Veterinarians can start breathing a little easier now when they go to work, without the fear that...
  • Ask the Vet My vet diagnosed anaplaz and I've never heard of that.
Related News Stories
Taxlink by Andy Biebl
House OKs Business Tax Breaks
Taxlink by Andy Biebl
Ask the Taxman by Andy Biebl
Taxlink by Andy Biebl
Ask the Taxman by Andy Biebl
Taxlink by Andy Biebl