Tax Relief for Drought-Impacted Farmers and Ranchers in 49 States
October 12, 2025
The IRS announced capital gain relief for farmers and ranchers in designated counties who were forced to sell livestock because of drought conditions. They have more time to replace their livestock and defer tax on any gains from these forced sales. The extended replacement period applies to eligible farmers and ranchers suffering exceptional, extreme, or severe drought between September 1, 2024, and August 31, 2025. #IdeaoftheDay
Daily tips on legal, tax, financial, and other matters to make you a smarter entrepreneur.
A new idea every day – check back tomorrow!
