(Hi-Line) The IRS today announced it has new tax relief efforts for farmers and ranchers that were forced to sell or exchange livestock because of drought conditions.
IRS officials say that those who qualify may have an extended period of time to replace of their livestock and defer taxes on any gains from the forced sales or exchanges.
The list of applicable areas listed include nearly all of the New Media Broadcasters listening area, including Hill, Blaine, Liberty, Phillips, and Chouteau counties.
Producers interested can find a link to the official document released by the IRS by clicking here.
