As a tax specialist with Farm Credit East's Financial Accounting Services (FAS) team, Phil helps agricultural businesses navigate everything from annual tax preparation and year-end planning to farm transitions and succession planning. While tax season is certainly a busy time, his work extends far beyond April deadlines.
Today’s Harvest Blog
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Earlier this month, Executive Order, Emergency Tax Relief on Diesel Fuel, was signed by the President with the purpose of deferring certain diesel fuel tax payment obligations and to provide penalty relief. As a result, the IRS acted and indicated it will not impose a penalty when dyed diesel fuel is sold for use or used on highways nationwide.
October 22, 2026
Today's Harvest Blog
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Harvest often provides the clearest picture of a farm's financial performance. This year, many producers are balancing strong yields with continued pressure from fuel, input and operating costs. To help address those challenges, USDA recently announced the new Harvest Fuel Relief Program (HFR), a one-time $8 billion assistance program for agricultural producers.
October 21, 2026
National cattle policy grabbed headlines in August as the market continues to defy principles of economics: beef prices at the grocery store continue to soar while the size of the national cattle herd struggles to keep up. This blog dives into the factors driving these market conditions and the steps producers can take in response.
September 08, 2026
For dairy farmers in the Northeast, profitability depends on factors outside their control. Milk prices fluctuate while production costs continue to rise. When milk prices fall below the cost of production, the financial pressure can be considerable and, ultimately, create the conditions that lead to dairy farm exits.
August 05, 2026
After nearly three years of short-term extensions, Congress is once again debating and drafting comprehensive farm legislation. In May, the House passed the Farm, Food, and National Security Act of 2026 (H.R. 7567), while in late June Senate Agriculture Committee Chairman John Boozman (AR) released the Agricultural Act of 2026, a “discussion draft” providing the Senate a starting point for negotiation with other committee members.
July 07, 2026