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Farmers and ranchers hit hard by drought may be eligible for extension of tax relief

Farmers and ranchers forced to sell livestock because of drought conditions may have more time to replace their livestock and defer tax on any gains from the forced sales. The IRS recently announced a one-year extension which gives eligible farmers and ranchers until the end of their first tax year after the first drought-free year to replace the sold livestock.

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Steel Country Bee

112 Quitman
Pittsburg, TX 75686
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