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Post details: Cost-Share Payments Received Under FHPP May Be Excluded from Income (Rev. Rul. 2009-23)
07/28/09
Cost-Share Payments Received Under FHPP May Be Excluded from Income (Rev. Rul. 2009-23)
CCH (cch.taxgroup.com) reports:
The IRS has ruled that the Forest Health Protection Program (FHPP) administered by the Department of Agriculture to protect forests in the United States is a small watershed program and, therefore, substantially similar to the type of programs described in Code Sec. 126(a)(1) through (8) within the meaning of
Code Sec. 126(a)(9). As a result, all or a portion of the cost-sharing payments received by a taxpayer under the FHPP is eligible to be excluded from gross income to the extent permitted under Code Sec. 126.
Rev. Rul. 2009-23, 2009FED ¶46,435
Other References:
Code Sec. 126
CCH Reference - 2009FED ¶7334.15
CCH Reference - 2009FED ¶7334.30
Tax Research Consultant
CCH Reference - TRC FARM: 3,168.05
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