Have You Heard That There Will Be NEW Financial Assistance Coming For Farmers, According To The USDA?
As you've probably realized by now, things are constantly changing throughout this entire COVID-19 pandemic. It's important to stay as up to date as possible on all of the information that is give and that's where our Mid-MO CPA firm comes in. In this week's blog, our Central Missouri accountants are here to point out that farmers can now get some assistance through the Coronavirus Food Assistance Program. Keep reading for a brief overview of how that will work. If you have any questions about how this may affect you as a farmer, please do not hesitate to call Wilson Toellner CPA today. We can be reached at one of our office phone numbers. We have four offices across Central Missouri and all of those phone numbers can be found on our website at www.WTCPA.com.
For eligible farmers and ranchers who have experienced a 5% or greater decline in price and are encountering significant marketing costs as a result of lower demand, USDA has announced assistance to farmers through the Coronavirus Food Assistance Program.
Applications accepted starting May 26, 2020, through your local FSA office. Applications will be accepted through August 28, 2020.
80% of the maximum total payment will be received upon approval of the application. The remaining amount will be paid at a later date as funds remain available.
Application forms and additional information can be found here: https://www.farmers.gov/cfap
Have You Heard That There Will Be NEW Financial Assistance Coming For Farmers, According To The USDA?
Source: https://www.usda.gov/media/press-releases/2020/05/19/usda-announces-details-direct-assistance-farmers-throughFor eligible farmers and ranchers who have experienced a 5% or greater decline in price and are encountering significant marketing costs as a result of lower demand, USDA has announced assistance to farmers through the Coronavirus Food Assistance Program.
- Non-Specialty Crops and Wool
- Livestock
- Dairy
Applications accepted starting May 26, 2020, through your local FSA office. Applications will be accepted through August 28, 2020.
80% of the maximum total payment will be received upon approval of the application. The remaining amount will be paid at a later date as funds remain available.
Application forms and additional information can be found here: https://www.farmers.gov/cfap
Have Any Questions About This?
We understand that this can be a lot of information to take in at once. It can be confusing if you don't have an expert available to walk you through all of these important details. That's where we come in. Wilson Toellner CPA specializes in helping farmers make smart business decisions. Let us be your extensive source for providing information related to agricultural tax issues and business decisions. Give us a call today. You can also stay up to date on our latest announcements by following us on our social media channels listed below.
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