Commercial Agriculture Blogs
This post is the second of a two-part blog series analyzing the impact of expiring federal tax provisions on farm businesses and households in central Illinois. Part one explored the current financial characteristics of farms across the United States and in Illinois and further examined the impact...
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Navigating the complexities of federal taxes can be challenging for farmers in Central Illinois. The 2017 Tax Cuts and Jobs Act (TCJA) and the American Rescue Plan Act (ARPA) of 2021 significantly changed federal taxes for individuals and estates. While many provisions of the TCJA were made...
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