Farm Income Tax Management and Reporting Manual: Federal Tax Reform Act of 1986
Casler, George L.; Smith, Stuart F.
Use of farm Tax Manual The following explanation of the 1986 Tax Law changes and provisions affecting individuals and farmers is not all inclusive. It is intended to provide basic information to enable the farm taxpayer and practitioner to recognize the most important tax changes and tax management opportunities. Major tax planning decisions should be based on a more complete study and understanding of the law than this material provides. TRA of 1986 contains more than 30 changes that will affect individual taxpayers. Although most of the changes do not become effective until 1987, 1988 or 1989, early recognition of future changes is an important part of tax education and tax management. Following are the most important changes for individual farm taxpayers as well as others.
Charles H. Dyson School of Applied Economics and Management, Cornell University