OMAHA, Neb. (RFD-TV) — The Internal Revenue Service (IRS) announced its decision this week to extend relief for ranchers impacted by drought, giving producers more time to replace livestock and defer taxes on gains from forced sales due to dry conditions.
Farm CPA Paul Neiffer joined us on Friday’s Market Day Report to break down what this extension means for affected ranchers.
In an interview with RFD-TV News, Neiffer explained the details of the IRS extension, including the amount of income from forced livestock sales that can be deferred under the provision and which producers are eligible. He also offered guidance on whether deferring taxes is the right decision for individual operations facing drought-related herd reductions.
Neiffer emphasized that producers should consult their tax advisors to make the best choice for their business as they navigate the financial challenges brought on by extreme weather.
For more information about the IRS drought-relief extension and eligibility guidelines, visit IRS.gov or contact your local Farm Service Agency office.
Learn the conditions farmers must meet to qualify for this new three-year tax deferral on farmland sales, how much it could save, and other details to consider.
November 13, 2025 01:57 PM
·
Bass Pro Anglers Jacob Wall and Bobby Lane will fish together in the Summit Cup after facing elimination in the Challenge Cup Knockout Round.
November 13, 2025 01:52 PM
·
RFD-TV farm legal expert Roger McEowen digs into the details on how to make your rural property dreams a reality — and avoid a living nightmare.
November 13, 2025 01:24 PM
·
FD-TV’s own Tammi Arender caught up with Gregg Doud, President and CEO of the National Milk Producers Federation.
November 13, 2025 12:05 PM
·
Jeramy Stephens with National Land Realty shares tips for fall and winter to guide landowners and farmers.
November 12, 2025 03:40 PM
·
RealAg Radio host Shaun Haney shares insights from a recent study, discusses EV market access in Canada, and highlights other market opportunities top of mind for Canadian producers.
November 12, 2025 03:19 PM
·
USMEF President and CEO Dan Halstrom shares how recent trade talks are influencing U.S. red meat global sales and the importance of key trade agreements like the USMCA.
November 12, 2025 03:07 PM
·
Iowa Ag Secretary Naig recaps discussions surrounding a potential federal aid package for farmers and shares insights on producer sentiment in the Heartland.
November 12, 2025 02:42 PM
·
Dr. Jeffrey Gold, President of the University of Nebraska, joined RFD-TV to discuss coping strategies for those aching joints.
November 12, 2025 02:00 PM
·
