WASHINGTON, D.C. (RFD NEWS) — The Fifth Circuit Court has overturned a prior Tax Court decision regarding self-employment tax for limited partners, raising questions about how farmers may be affected by the ruling. Farm CPA Paul Neiffer joined us on Friday’s Market Day Report for insights.
In his interview with RFD NEWS, Neiffer provided details on the case and explained its implications. He also discussed how farmers should approach the ruling if they had assumed they were not required to pay self-employment tax and whether congressional action might follow.
Related Stories
RFD-TV agricultural law and taxation expert Roger McEowen discusses issues concerning farmers and ranchers, such as trade vs. business, income tax basis, croppers, and like-kind exchanges.
The U.S. Department of Agriculture (USDA) appointed Dr. Jaye L. Hamby as the new Director of the National Institute of Food and Agriculture (NIFA).
