IRS offers tax relief for some Alaskan farmers and ranchers
The IRS is offering tax help for some Alaskan farmers and ranchers who had to sell livestock due to extreme weather in recent years.
A news release from the revenue service says those who are eligible will get more time to replace their livestock and can defer taxes on any gains from the sales.
Poultry and livestock that were raised for slaughter or held for sporting purposes do not qualify.
Areas in Alaska impacted by the tax relief can be found in the notice from the IRS.
The Farmer's Tax Guide offers more information on preparing tax returns.
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