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Saturday, March 28, 2020  Spokane, Washington  Est. May 19, 1883
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News >  Agriculture

IRS extends relief for Washington farmers and ranchers affected by drought

UPDATED: Thu., Oct. 10, 2019

From staff reports

The Internal Revenue Service has extended tax relief for farmers and ranchers who were forced to sell livestock because of drought, flooding or other severe weather in recent years.

Farmers and ranchers in the Washington counties of Clallam, Clark, Cowlitz, Grays Harbor, Jefferson, King, Kitsap, Klickitat, Lewis, Mason, Pacific, Pend Oreille, Pierce, Skagit, Skamania, Snohomish, Stevens, Thurston, Wahkiakum, and Whatcom are eligible for federal assistance. Counties that border those listed are also eligible for federal aid, according to the IRS.

In most cases, qualified farmers and ranchers whose drought-sale replacement period was scheduled to expire Dec. 31, now have until the end of the next tax year to replace the livestock and defer tax on any gains from the forced sales. Sales of other livestock, such as those raised for slaughter or held for sporting purposes, or poultry, are not eligible.

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