Fifth Circuit Clarifies the “Active Participation” Exception to the Internal Revenue Code’s Farming-Syndicate Rules

Recently, the United States Court of Appeals for the Fifth Circuit handed down some good news for individual cattle ranchers and farmers wishing to take advantage of S corporations for tax purposes, yet seeking to avoid having their business operations classified by the IRS as an impermissible tax shelter.  In Burnett Ranches, Ltd. v. United …

Fifth Circuit Clarifies the “Active Participation” Exception to the Internal Revenue Code’s Farming-Syndicate Rules Read More »