Problems in Rolling Over Lines of Credit to the Following Year

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T06:44:04.000
dc.date.accessioned 2020-06-29T22:58:02Z
dc.date.available 2020-06-29T22:58:02Z
dc.date.embargo 2017-12-20
dc.date.issued 2015-12-04
dc.description.abstract <p>The decline in recent months of farm commodity prices, especially crops, may threaten beginning farmers and those with limited resources.1 In some instances, the ability to repay short-term production loans may be in question. It is important to note that late year-end payments by rolling over a loan into the following year’s line of credit are likely to be challenged as to deductibility. The Internal Revenue Service in mid-1983 announced that rollovers involving the same lender, with the rollover of the unpaid interest amount treated as though the interest had been paid, would no longer be an accepted practice.2 That announcement was made after IRS had won three cases relative to that issue.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol26/iss24/1/
dc.identifier.articleid 2305
dc.identifier.contextkey 11281166
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol26/iss24/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3786
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol26/iss24/1/AgLawDigest_v26n24_01.pdf|||Fri Jan 14 17:51:29 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Problems in Rolling Over Lines of Credit to the Following Year
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 34e6e7cc-1495-46cb-8fb2-7ee45b3e5188
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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