Dec 14, 2020 | News, Taxes
FLA Supports Proposal to Include Timber Business and Forestland in IRS Business Interest Expense Limitation Guidance The Forest Landowners Association gave official comments to the Internal Revenue Service (IRS) and Treasury Department in support of proposed changes...
Aug 10, 2020 | Issues, News, Taxes
The Tax Cuts and Jobs Act created a limitation on the amount of interest expense that can be deducted from a business’s taxes. There are multiple exemptions to this limitation to allow a business to deduct their full interest expense. For FLA members the first...
Dec 18, 2019 | News, Taxes
IRS Confirms No “Claw Backs” on Estate Gifting After Current Policy Expires in 2025 The Treasury Department and the Internal Revenue Service issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts...
Mar 27, 2019 | Natural Disasters, Taxes
Senator Rick Scott is calling on the U.S. Department of Agriculture to do more to help the timber industry after Hurricane Michael. H.R. 1444, the Forest Recovery Act provides fair market value tax deduction for loss of timber due to a catastrophic event. Contact Your...
Dec 7, 2018 | Blog, Property Rights, Taxes
Join live timber tax webinar today at 1:00 pm est! Have you suffered property damage in recent fires, hurricanes, or storms? Want to learn about how to list the damages on your tax returns? Join Dr. Linda Wang, a National Timber Tax Specialist with USDA Forest Service...
Apr 26, 2018 | Issue Overview, Taxes
The Forest Landowners Association continues to support the full repeal of the estate tax repeal. While many forest landowners will find relief in newly enacted estate tax exemption of $11 million per person indexed for inflation and the continuation of stepped-up...
