Coolidge Wall Co., L.P.A.
Phone : 937-608-9464 | Toll Free : 877-422-0702

December 2017 Archives

Increased Tax Relief for Family Farmers in Chapter 12

While most of the US media is focused on various bills that have been hung up in congress over the last year, a bill providing additional tax relief to family farmers through Chapter 12 bankruptcy, has not received much attention. On October 26, 2017, President Trump signed the Family Farmer Bankruptcy Clarification Act of 2017 (H.R. 2266) into law. This new law expands the tax relief granted to family farmers in 2005, and legislatively overturns the narrow interpretation of the Supreme Court of that 2005 act.