THE I-R-S HAS ANNOUNCED AN EXTENSION THAT COULD HELP FARMERS AND RANCHERS IN SANTA CRUZ, MONTEREY, SAN BENITO, AND SANTA CLARA COUNTIES. THOSE FARMERS AND RANCHERS (WHO WERE FORCED TO SELL THEIR DRAFT, DAIRY, OR BREEDING LIVESTOCK DUE TO THE DROUGHT….BETWEEN 2010 AND NOW) COULD BE ELIGIBLE TO REPLACE THEIR LIVESTOCK, OR DEFER TAXES ON ANY GAINS FROM THE FORCED SALES. SALES OF OTHER LIVESTOCK (RAISED FOR SLAUGHTER, OR SPORTING PURPOSES) ARE NOT ELIGIBLE. THE I-R-S EXTENSION IS NOW EXPECTED TO EXPIRE IN DECEMBER OF 2015.
More information is available on the IRS website.
