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Form 4835 Elizabeth New Jersey: What You Should Know
California and Pennsylvania require their state governments to require farmland owners to report their income on an agricultural Schedule E. This is a great advantage to the owner of New York properties and the Pennsylvania taxpayer. We are currently pursuing a legislative fix to the tax code that would extend the state exemption of Schedule E to ALL taxpayers. IRS Denies State Workaround on State and Local Taxes The IRS issued guidance addressing how taxpayers can comply with certain reporting requirements when the taxpayer has now or limited participation in the conduct of the business of farming.
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