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CCH Issues Special Tax Briefing on Farm Bill
(RIVERWOODS, ILL., May 20, 2008) – CCH has issued a Special Tax Briefing on the Farm Bill: http://tax.cchgroup.com/legislation/2008-farmbill.pdf.
After months of negotiations, the Food, Conservation, and Energy Act of 2008 (H.R. 2419) has cleared Congress. The CCH Briefing provides an overview of the bill’s provisions, which include a variety of tax incentives for farmers and ranchers, as well as revenue offsets affecting individuals and businesses outside of farming and ranching.
Passage of the Farm Bill could also have a domino effect on several other pending tax bills that the House has passed and the Senate is expected to consider, including a comprehensive housing bill (H.R. 3221); legislation equalizing the return preparer and taxpayer penalty standards (H.R. 5719); and legislation imposing a surtax on very wealthy individuals to pay for GI education benefits (H.R. 2642). The House is also set to consider an extenders bill (H.R. 6049), which would include a host of popular but temporary tax breaks—such as the state and local sales tax deduction.
For more information, please see the CCH Briefing at http://tax.cchgroup.com/legislation/2008-farmbill.pdf.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. CCH is based in Riverwoods, Ill. Wolters Kluwer is a leading global information services and publishing company. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America, and Asia Pacific and employs approximately 19,544 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. For more information, visit www.wolterskluwer.com.