Conservation

USDA Programs to Conserve Sensitive Land and Help Beginning Farmers

June 4, 2014 Press Release – USDA Farm Service Agency “Farmers, ranchers and landowners committed to protecting and conserving environmentally sensitive land may now sign up for the Conservation Reserve Program (CRP). Additionally, retiring farmers enrolled in CRP could receive incentives to transfer a portion of their land to beginning, disadvantaged or veteran farmers through the Transition Incentives Program (TIP).” See complete press release here. “CRP consists of a ‘continuous’ and ‘general’ sign-up period.  Continuous sign up for the voluntary program starts June 9.” “The Transition Incentives Program provides two additional years of payments for retired farmers and ranchers who …

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Court Ruling on CRP Land Puts Question to Self Employment Tax

U. S. Tax Court says non-farmer Texas resident must pay self-employment tax on Conservation Reserve Program land inherited in South Dakota. A non-farmer’s Conservation Reserve Program income can be hit with self-employment tax, said U.S. Tax Court in a ruling last year, which involved a Texas resident who inherited farm land in South Dakota. “Since the late 1980s, the IRS and the courts have issued various rulings, advices, notices and opinions concerning the issue of whether CRP payments are subject to self-employment tax,” says Roger McEowen, Leonard Dolezal Professor of Agricultural Law at Iowa State University. “Until 2003, the IRS …

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