The U.S. Department of Agriculture (USDA) is making significant investments in two farming outreach and education efforts. As part of the investment, USDA’s Farm Service Agency (FSA) is funding a new Taxpayer Education and Asset Protection Initiative. A total of $10 million is being invested in the new initiative. Conservation Reserve Program’s Transition Incentives Program (CRP TIP) is also receiving a total of $4.5 million in funding support.
“Running a farm operation is tough, and we are working to help meet gaps where farmers need assistance,” Deputy Under Secretary for Farm Production and Conservation Gloria Montaño Greene said in a press release. “First, filing taxes for an agricultural operation can be challenging and many agricultural producers may not have the funds to hire accountants or tax professionals to assist, especially for new and historically underserved producers. This new initiative offers support to producers in navigating tax season. Second, we want to make sure producers are aware of our many program options, and Conservation Reserve Program Transition Incentives Program (CRP TIP) provides a unique opportunity for producers with expiring CRP land to help bring new farmers into the fold.”
The University of Arkansas and the National Farm Income Tax Extension Committee will be working with FSA on the first phase of the Initiative. Tax education resources will be made available through various partners. The goal is to help farmers and ranchers better understand how USDA program funds impact federal income taxes. Additional online resources and continuing education opportunities will be developed through the second phase of the Initiative.
Part of the farming outreach investment includes is to award an estimated 15 to 20 partner and stakeholder organizations to promote awareness and understanding of CRP TIP. An emphasis is being placed on providing increased support for those who are new to farming, military veterans, or belong to historically underserved communities. FSA will also be training personnel on CRP TIP to help support further participation in the program.