ERP Phase 2 New Benefits for Forage Producers and Vineyards

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By Agweb

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June 15, 2023 04:42 AM

USDA announced yesterday additional benefits under the Emergency Relief Program from farmers who raise forage products such as hay that is feed to their livestock or a vineyard that grows grapes that is converted to wine by the farmer but not yet sold.

Under the original rules, none of this value would show up in a tax return. Therefore, USDA is allowing these farmers to calculate their estimated values for these products for the benchmark and disaster years.

The FarmCPAReport website has an audio review of the new rules for these producers. We would appreciate if you could sign up for the blog.

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