Exempt Family Farms From Estate Tax, Association Urges
Exempt Family Farms From Estate Tax, Association Urges
- AuthorsLedgerwood, Ray
- Institutional AuthorsNational Association of Conservation Districts - Capacity Center
- Subject Area/Tax Topics
- Index Termsestate taxestate tax, valuation, farmsestate tax, valuation, farms, transfer by fiduciary
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 1999-18637 (2 original pages)
- Tax Analysts Electronic Citation1999 TNT 102-20
=============== SUMMARY ===============
Ray Ledgerwood of the National Association of Conservation Districts - Capacity Center, Pullman, Wash., has asked the IRS to support his organization's proposal to exempt qualified family farms and ranches from the estate tax. The association supports the change, Ledgerwood says, because estate taxes have become a "serious obstacle" to maintaining family farms and keeping productive land in production.
In response, the IRS has noted that an estate tax exemption for family farms would require a change in the tax law. Because Treasury's Office of Tax Policy handles those types of proposals, the Service says, it forwarded the association's proposal to that office.
=============== FULL TEXT ===============
March 8, 1999
Charles O. Rossotti
Commissioner
Department of Treasury
Internal Revenue Service
Washington DC 20224
Dear Commissar Rossotti:
[1] The National Association of Conservation Districts, made up of nearly 3,000 conservation districts across our nation, has a most important function. Our function is to take available technical, financial, and educational resources, whatever their source, and focus or coordinate them so that they meet the needs of the local land user for conservation of soil, water, and related resources.
[2] A most serious discussion occurred at our National Board of Directors meeting in San Diego a few weeks ago regarding the effects of estate and death taxes on family farming operation and keeping productive land in production.
[3] The resolution that the National Board passes [sic] is as follows:
"Increased Property Values and Estate taxes have become a
serious obstacle to maintaining a family farming operation and
keeping productive land in production. NACD supports passage of
legislation that will exempt qualified family farms and ranches
from estate and death taxes"
[4] Would you please assist us with the process for changing the tax law and your outlook for being able to do something about this important issue?
Sincerely
Ray Ledgerwood
Director of Capacity Building
Services
* * * * *
April 21, 1999
Mr. Ray Ledgerwood
National Association of Conservation Districts
1615 NE Eastgate Blvd Suite B
Pullman, WA 99163-5609
Dear Mr. Ledgerwood:
[5] On behalf of Commissioner Charles Rossotti, I am responding to your letter dated March 8, 1999, in which you express concerns regarding the effect of estate and death taxes on family farms. As indicated in your letter, you are aware that your proposal to exempt certain qualified family farms from estate and death taxes require a change to the tax law by Congress. Therefore, I have forwarded your letter to the Office of the Assistant Secretary (Tax Policy) at the Department of the Treasury. That office is responsible for considering proposals such as yours.
[6] If you have any questions about my referral of your letter, please contact Joseph Hebb of my staff at (202) 622-9476.
Sincerely,
Wayne Wiegand
Chief, Correspondence and
Management Support Section
Washington, D.C.
cc: Assistant Secretary (Tax Policy)
Department of the Treasury
1500 Pennsylvania Avenue, N.W.
Washington, DC 20220
- AuthorsLedgerwood, Ray
- Institutional AuthorsNational Association of Conservation Districts - Capacity Center
- Subject Area/Tax Topics
- Index Termsestate taxestate tax, valuation, farmsestate tax, valuation, farms, transfer by fiduciary
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 1999-18637 (2 original pages)
- Tax Analysts Electronic Citation1999 TNT 102-20
