On February 5, the National Association of State Foresters sent a letter to the USDA Forest Service Southern Research Station expressing its support for updating Agricultural Handbook 731: The Forest Landowner’s Guide to the Federal Income Tax.
NASF is comprised of the heads of forestry agencies in all 50 states, U.S. territories, and the District of Columbia. A key objective of our organization is to promote the proper management of the nation’s forest resources, which deliver important economic, environmental, and social benefits to all Americans. Among our most important stakeholders are non-industrial private forestland owners. Tax policy significantly influences the ability of landowners to retain and practice good stewardship of their forests. Resources that help them navigate the intricacies of filing taxes are invaluable.
The guide has historically been revised every six to seven years since the 1960s, with the latest version being published in 2013. Since then, the federal Tax Cuts and Jobs Act of 2017 made major changes to federal tax policy. Given these and other changes made over the last seven years, we would agree that a new handbook for forestland owners is essential.
Read the letter in full by clicking the link below.