A Look at Tax Reform Proposals
A Look at Tax Reform Proposals On May 28, 2021, the Treasury Department released the “Green Book,” a description of revenue proposals within President Biden’s fiscal year 2022 budget. This…
July 19th, 2021
Three recent court cases touch on issues that often face clients. One involves the tricky issue of what is a taxpayer’s “tax home.” Another case involves the issue of unforeseen circumstances as an exception to the two-year ownership and usage requirement for the principal residence gain exclusion provision. The final case for discussion today involves the deduction for gambling losses, and a rather unique set of facts.
Today’s blog post is courtesy of friend of Tax School and Professor of Agricultural Law and Taxation at Washburn University School of Law, Roger McEowen, JD. In this blog, Roger takes an in-depth look at the background of NOLs in farming and then examines what the latest IRS guidance means for farm taxpayers.
Roger McEowen, JD, is the Kansas Farm Bureau Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. He is a published author and prominent speaker, conducting more than 80 seminars annually across the United States for farmers, agricultural business professionals, lawyers, and tax professionals. His writing can be found in national agriculture publications, books, and a monthly publication, Kansas Farm and Estate Law. He received a B.S. with distinction from Purdue University in Management in 1986, an M.S. in Agricultural Economics from Iowa State University in 1990, and a J.D. from the Drake University School of Law in 1991. He is a member of the Iowa and Kansas Bar Associations and is admitted to practice in Nebraska. He is also a past member of the American Agricultural Law Association Board of Directors.
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