Overview of the industry. Provides terminology. Topics discussed include underreporting of income, employment taxes, accounting methods, government farm programs, etc.

TABLE OF CONTENTS

Chapter 1 INTRODUCTION

Chapter 2 Creation CYCLES

Chapter 3 EXAMINATION TECHNIQUES

Chapter 4 EMPLOYMENT TAXES IRM 4034

Chapter 5 ACCOUNTING

Chapter 6 Financial gain

Chapter 7 GOVERNMENT FARM PROGRAMS

• The Farm and Warehouse Storage Program 7-5
• The Diversion and Set-Aside Program 7-4
• The Deficiency Program 7-3
• Resources 7-9
• Reporting Program Payments 7-19
• Market Gain 7-15
• Loan Know how 7-11
• Limitation on Total Payments 7-3
• Income Accomplished 7-6
• Income Know how 7-13
• General Rules for Coverage Loan Data 7-18
• Examination Techniques 7-24
• Examination Techniques 7-16
• Effects of the Exclusion 7-7
• Crop Insurance and Disaster Payments 7-22
• Cost Sharing Exclusion 7-5
• Conservation Reserve Program (CRP) 7-8
• Conservation 7-5
• Commodity Credit Loans 7-10
• Commodity Credit Corporation Loans 7-9
• Commodity Credit Certificates (PIK) 7-21
• Cash Payment Programs 7-3
• Agricultural Program Payments 7-1

Chapter 8 HEDGING FARM COMMODITIES

Chapter 9 CANCELLATION OF Liability

Chapter 10 FORECLOSURES, REPOSSESSIONS, AND ABANDONMENTS

Chapter 11 FARM BUSINESS EXPENSES

Chapter 12 BASIS AND SALES OF THE FARM AND FARM ASSETS

Chapter 13 DEPRECIATION, COST RECOVERY AND IRC 179

Chapter 14 DEPLETION

Chapter 15 SALES OF Stock

Chapter 16 CREDITS