Taxing Agricultural Program Payments

Thumbnail Image
Date
1990-03-02
Authors
Harl, Neil
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Authors
Person
Research Projects
Organizational Units
Journal Issue
Is Version Of
Versions
Series
Department
Iowa State University Digital Repository
Abstract

As a general rule agricultural program payments received in cash or in materials or services are includible in income. The time at which the amounts are received or made available under constructive receipt principles is ordinarily the time the payments are to be included in income. Amounts are "made available" in the year in which farm program payment requirements have been met, regardless of whether an application had been signed to receive final payment. Thus, if federal farm program payments are made available in one year with an option to accept payment in the following year, the amount made available is includible in income in the earlier of the year of actual payment or the year made available to the taxpayer.

Comments
Description
Keywords
Citation
DOI
Source
Copyright
Collections