date:Oct 24, 2012
for farmers who would normally sell a portion or all of their crop in the year following harvest, says Ohio State University farm management specialist David Marrison. But, if that happens, there is protection from paying a boatload of taxes at once in the form of an Internal Revenue Service (IRS) provision.
The IRS section 451(d) and Treasury Regulation section 1.451-6 allows for the postponement (for one year) of reporting compensatory payments received for crop losses, Marrison says. In oth