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.
Purdue University’s Dr. Michael Langemeier joins us to break down the latest read on farmer sentiment in the April Ag Economy Barometer, and growing concerns about the impact of global conflict on farm inputs and income.
Federal officials are signaling a more aggressive push on beef packer concentration, but any direct market impact will depend on what the investigation actually finds.
The court’s decision to deny the defendant’s motion to exclude the expert’s testimony serves as a sharp reminder of the high burden required to exclude expert testimony, particularly in the agricultural context, where “experience” is often the currency of reliability.
The USDA’s annual report leaves dairy producers with a mixed picture. Output and herd size expanded, but weaker prices kept income from rising with production.
Total cash receipts from marketings of cattle, calves, hogs, and pigs climbed by 18% in 2025 to $165 billion.
Wyoming cowboy and Dusty Vaquero Days founder J.B. Zielke joins us to preview his upcoming event in Gillette and to highlight the festival’s celebration of cowboy culture through music and community events.
