The USDA’s Emergency Commodity Assistance Program (ECAP) opened applications on March 19, 2025, providing $10 billion in economic assistance to farmers. This initiative is part of a broader $31 billion package approved by Congress in December 2024, aimed at supporting farmers affected by natural disasters in 2023 and 2024. The USDA plans to release initial payments, covering 85% of the total, with supplemental payments expected in the summer.
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FinCEN Updates Beneficial Ownership Reporting Requirements
As of March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) has announced significant changes narrowing the scope of the reporting requirements for beneficial ownership information (BOI) under the Corporate Transparency Act. This update, consistent with the U.S. Department of the Treasury's recent announcement, aims to simplify the process for U.S. companies and individuals.
March 25, 2025
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Beneficial Ownership Information: How to File
As the December 31, 2024, deadline looms to report Beneficial Ownership Information (BOI) as part of The Corporate Transparency Act, we wanted to make sure members are equipped with the information they need to file their information and remain compliant. The following are questions we’ve heard from customers.
November 18, 2024
Tax Talks
Important Tax Considerations for Apple Growers
As the 2024 growing and harvest season wraps up, many producers will be turning to their tax advisors to continue the year-end tax planning conversation. In this article, we examine a few areas that may be of interest to apple producers and their advisors.
October 29, 2024
Tax Talks
A Guide for Understanding New York State Land Credits
As we navigate the complexities of tax season, it's essential to stay informed about the various credits and deductions available to you. One such benefit is the Farmers School Tax Credit (FSTC), a valuable resource for those engaged in the business of farming. This blog aims to provide a high-level overview of the FSTC and Manufacturer’s real property tax credit to ensure you have the information needed to maximize your tax savings.
October 08, 2024
Tax Talks
Beneficial Ownership Information: Who is Required to Report?
Earlier this year, Farm Credit East held a webinar reviewing The Corporate Transparency Act and the new Beneficial Ownership Information (BOI) reporting requirements that went into effect on January 1, 2024. Several webinar attendees asked questions about how these requirements apply to different business structures.
September 24, 2024
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