Farmers Breakfast: Trucking in Agriculture
Speaker topics included Rules of the Road: Trucking laws and regulations to keep you moving and addressing issues in transport as a farm operation to a for hire carrier.
Read MoreThe Biden administration has proposed a sweeping new information reporting requirement on annual gross inflows and outflows of financial accounts. If enacted, this proposal would require financial institutions to report to the IRS account information on nearly every American who has a bank account.
In response, American Farm Bureau has joined over 100 other organizations in a letter to leaders of Congress to share their concerns about this proposal.
“Lawmakers must fully understand the breadth of taxpayers who would be receiving a new form from their financial institution – almost every American who has a bank or credit union account and has gross inflow and outflow of at least $600,” the letter to Speaker Nancy Pelosi, Majority Leader Chuck Schumer, Minority Leader Kevin McCarthy and Minority Leader Mitch McConnell reads. “While recent proposals suggest that increasing the threshold to $10,000 is less objectionable, this is a flawed assumption and will not significantly reduce the scale of this new IRS program.”
Those in favor of the suggested changes claim that this proposal targets wealthy Americans who do not pay what they owe in taxes. The letter also addresses those charges.
“This proposal would create serious financial privacy concerns, increase tax preparation costs for individuals and small businesses, and create significant operational challenges for financial institutions. We believe that this program is costly for all parties, not fit for purpose, and loaded with the potential for unintended and serious negative consequences. As associations representing a broad cross-section of financial and business interests, we urge you to oppose any efforts to institute this new reporting regime.”
Speaker topics included Rules of the Road: Trucking laws and regulations to keep you moving and addressing issues in transport as a farm operation to a for hire carrier.
Read MoreFarm Bureau community partners presented information on forestry, CAUV, taxes, conservation practices and succession planning.
Read MoreState Senate Candidate and current State Rep. Susan Manchester, Rep. Tim Barhorst and Rep. Angie King have been invited as our legislative guests April 1.
Read MoreLeah Hetrick, with the Ohio Farm Bureau, will discuss the recent increases in CAUV values, information to help you understand the property tax system, and an update on legislative action.
Read MoreOhio Farm Bureau’s farmer leaders plus members of the media and select Farm Bureau staff are at the nation’s capital March. 12-14, 2024 for the annual County Presidents Trip to Washington, D.C.
Read MoreThe SEC voted on its final climate disclosure rule and removed the Scope 3 reporting requirement, which would have required public companies to report the greenhouse gas emissions of their supply chain.
Read MoreBrian Fracker, Paul Davidson and Jenna Brown were there on behalf of Licking County Farm Bureau.
Read MoreKyle Walls, Sam Fawcett and Kris Weiser were there on behalf of Knox County Farm Bureau.
Read MoreDr. Eric Shaver and Susan Mykrantz were there on behalf of Holmes County Farm Bureau.
Read MoreKayla Durbin, Luke Durbin, Leah Allen and Johnathan Woodward were there on behalf of Coshocton County Farm Bureau.
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