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.
The Mosaic Company’s Keith Byerly shares smart input investment strategies, fertilizer considerations, and ways growers can manage risk heading into the 2026 growing season.
March 23, 2026 12:56 PM
·
Up-and-coming stock show competitor Saylor Soechting makes her Rodeo Austin debut, showcasing teamwork, dedication, and the next generation of livestock show competitors.
March 23, 2026 12:26 PM
·
NCGA Chief Economist Krista Swanson discusses the evolving role of ethanol in the current energy crisis, opportunities for expanding corn discusses the evolving role of ethanol in the current marketdemand, and the industry’s outlook moving forward.
March 23, 2026 12:04 PM
·
Ag Secretary Brooke Rollins surveys Nebraska wildfire damage as cattle losses, tight supplies, rising imports, and beef industry investigations impact U.S. markets. Roger McEowen outlines legal and tax considerations for ranchers recovering from wildfire damage.
March 23, 2026 11:18 AM
·
Texas Agriculture Commissioner Sid Miller launches Agricultural Defense Program to combat pests, disease, and predators threatening farmers and ranchers statewide.
March 23, 2026 10:40 AM
·
March 23, 2026 10:17 AM
·
