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.
National FFA Southern Region Vice President T. Wayne William talks about Wear Blue Day, the history of the blue jacket, and why the tradition continues to inspire pride and connection among FFA members nationwide.
February 27, 2026 12:21 PM
·
The closure of Lubbock Feeders highlights mounting pressure on the U.S. cattle supply, according to the Texas Cattle Feeders Association, as border restrictions and costs strain feedyards.
February 27, 2026 11:59 AM
·
From projected drops in input costs to biofuel expansion and the USDA’s new “One Farmer, One File” initiative, Ag Secretary Brooke Rollins shared key policy priorities at Commodity Classic that put farm issues back in the spotlight.
February 27, 2026 11:32 AM
·
NCBA Chief Counsel Mary-Thomas Hart discussed the legal process behind delisting the prairie chicken, the challenges ranchers faced under the bird’s previous protections, and the benefits of cooperative habitat management for both livestock and wildlife.
February 27, 2026 10:55 AM
·
Liquidity management and cost control will matter most in 2026.
February 27, 2026 08:00 AM
·
USDA headquarters downsizing reflects cost pressures and may reshape agency operations.
February 26, 2026 03:45 PM
·
