Tell Congress to Protect Cash Accounting for All Active Farmers Regardless of Ownership Structure.
Cash vs. Accrual Accounting – Impact of Proposed Changes
Congress is considering a proposal that would require the use of accrual accounting for tax purposes by agricultural operations with more than $10 million in aggregated gross receipts.
The proposed reporting changes will impact the ability of producers to:
- manage year-to-year risk
- build working capital, and
- create long-term stability for their operations
For decades, ag businesses have used cash-basis accounting for tax purposes to balance out price volatility and help manage their operations consistent with their cash flow.
In the News
Farmers and Ranchers Call on Congress and the Trump Administration to Repeal Harmful IRS Ruling
September 19, 2019 - (Washington, DC) In a letter to Congress today, 28 of America’s leading agricultural businesses and associations called for the repeal of an IRS opinion that threatens the livelihoods of thousands of farm and ranch operations nationwide. The...read more
Farmers for Tax Fairness Applauds House Tax Reform Bill
Bill Does Not Restrict the Ability of Farmers and Ranchers to Use Cash Accounting (Nov. 2, 2017) – Farmers for Tax Fairness, a national coalition of farmers and ranchers, today applauded the U.S. House of Representatives for not restricting the use of cash accounting...read more
K·Coe Isom Applauds Congressional and White House Progress on Tax Reform Framework
Leading Ag Consulting & CPA Firm Calls on Congress to Shape Tax Reform to Boost U.S. Agriculture (Sept. 27, 2017) – K·Coe Isom, the nation’s leading agricultural accounting and consulting firm, today applauded the U.S. House and Senate leadership and the White House...read more
A Letter to U.S. Senate Finance
A letter to U.S. senators on tax code and access to cash accounting for agricultural businesses.read more
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