"Audits of Farming Businesses: 'Hobby Loss' Audits and What Taxpayers Can Do to Protect Themselves," Oregon Farm Bureau Tax Symposium

Although farms, ranches and agricultural producers have historically been granted somewhat favorable tax treatment by federal and state legislatures and tax authorities, there has been a recent uptick in audits in the agribusiness sector, including a focus by the IRS and Oregon Department of Revenue on the “hobby loss” rules under Internal Revenue Code Section 183.

“Hobby loss” audits can be extremely difficult and time consuming, and many taxpayers who wouldn’t think they have a “hobby farm” have been blindsided by aggressive auditors. Learn steps you can take to protect your business should it be audited.

For more information and to register, visit the Oregon Farm Bureau website.