Farm Credit East offered an educational webinar regarding new payroll and tax provisions outlined in the newly passed Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief, and Economic Security (CARES) Act. This free webinar was held on Thursday, April 2.
Farm Credit East is committed to providing you with the tax expertise and personal service that you have come to expect. If your taxes are not yet complete, we want to assure you that our tax staff is still hard at work. At the same time, the health and safety of our staff and customers is our top priority. Here’s some insight into a few of our processes that have changed.
An adjustment to the filing deadline has been made to farmers’ tax returns originally due March 1. Farmers can file their federal tax returns by April 15, without penalty, even if they have not made estimated tax payments. Click here to read the announcement.
The federal tax law that was passed late in 2017 significantly affects agricultural producers this year. This makes tax planning more important than ever. Farm Credit East recently released a short video summarizing some of these changes and the services it provides to help Northeast agricultural businesses create their tax strategy.