IRS announces drought counties for extended replacement period for livestock

The IRS has listed counties eligible for an extended replacement period for drought sales of livestock. Owners in specified areas now have at least until the end of 2025 to replace the involuntarily converted animals.

Roger McEowen with the Washburn School of Law spoke with RFD-TV’s own Tammi Arender on what this process entails, the duration of the replacement period, and eligibility.

FIRM TO FARM: Extended Replacement Period for Weather-Related Livestock Sales

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