U.S. IRS Extends Tax Relief for Farmers and Ranchers Forced to Sell Livestock Due to Drought

The U.S. IRS has announced the extension of tax relief for certain livestock sales forced by drought. This allows eligible farmers and ranchers more time to replace livestock and defer capital gains tax on the sales.

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IRS announces extension of tax relief for farmers and ranchers affected by drought in 49 states, other regions

WASHINGTON − The Internal Revenue Service today issued guidance that provides an extension of tax relief for farmers and ranchers in most states and other regio…