Checking Your Federal Refund Status Is Easy
As you are no doubt aware, the IRS has made a significant shift in its approach to issuing tax refunds by discontinuing the practice of sending refunds via paper checks. This change is part …
As you are no doubt aware, the IRS has made a significant shift in its approach to issuing tax refunds by discontinuing the practice of sending refunds via paper checks. This change is part of an ongoing effort to enhance efficiency and security in processing tax returns. By moving towards electronic transfers, the IRS aims to reduce the risk of lost or stolen
checks, expedite the refund process, and minimize costs associated with printing and mailing. The IRS has implemented alternative methods to accommodate taxpayers who do not have a bank account such as prepaid debit cards.
Regardless of the delivery method, if you have already filed your federal tax return and are due to receive a refund, you can check the status of your refund online.
Where’s My Refund? is an interactive tool on the IRS website. Regardless of whether you have split your refund among several accounts or opted for a direct deposit into one account, Where’s My Refund? will give you online access to your refund information nearly 24 hours a day and 7 days a week.
If you e-file, you can use this tool to get your refund information 24 hours after the IRS acknowledges receipt of your return. Nine out of 10 taxpayers typically receive refunds in fewer than 21 days when they use e-file with direct deposit. If you file a paper return, refund information will be available starting four weeks after mailing your return. When you go to check the status of your refund, have a copy of your federal tax return handy. To access your personalized refund information, you must enter:
- Your Social Security Number (or Individual Taxpayer Identification Number),
- The tax year (options include 2025, 2024 and 2023),
- Your filing status on that return (single, married filing jointly, married filing separately, head of household, or qualifying widow(er)/surviving spouse), and
- The exact refund amount shown on your tax return.
Once you have entered your personal information, one of several personalized responses will come up:
- Acknowledgement that your return has been received and is being processed,
- Refund was approved and the IRS is preparing to issue it by the date shown.
- Refund Sent – the IRS has sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.
Where’s My Refund? also includes links to customized information based on your specific situation. The links guide you through the steps to resolve any issues that are affecting your refund. For example, if you do not receive your refund within 28 days of the mailing date shown on Where’s My Refund?, you can start a refund trace online.
Where’s My Refund? is also accessible to visually impaired taxpayers who use the Job Access with Speech screen reader with a Braille display. Where’s My Refund? is compatible with various modes of this screen reader.
IRS2Go is a free IRS smartphone app that lets taxpayers check on the status of their tax refunds. For download information, visit IRS2Go. It is available for both Apple and Android.
Where’s My Refund? provides the most up-to-date information that the IRS has. There’s no need to call the IRS unless Where’s My Refund? tells you to do so. Where’s My Refund? is updated every 24 hours (usually overnight), so you only need to check it once a day. Please contact DBC if you encounter any problems.
Sold Your Home Before Meeting the Gain Exclusion Requirements? You May Still Qualify for a Partial Exclusion
When selling a principal residence, taxpayers turn to Section 121 of the Internal Revenue Code to mitigate potential capital gains taxes. Under this provision, homeowners can exclude up to $250,000 of gain ($500,000 for …
When selling a principal residence, taxpayers turn to Section 121 of the Internal Revenue Code to mitigate potential capital gains taxes. Under this provision, homeowners can exclude up to $250,000 of gain ($500,000 for qualifying joint filers) from the sale. To fully qualify, individuals must have owned and lived in the home as their primary residence for at least two out of the five years preceding the sale date. However, life sometimes unfolds in ways that prevent individuals from satisfying the full requirements for this lucrative exclusion. Thankfully, the IRS provides relief through partial exclusions for those who need to sell their home due to a change in the place of employment, health issues, or unforeseen circumstances before meeting the two out of the five years standard requirement. This article delves into understanding how these exceptions operate, offering insights into when taxpayers can still benefit from a Section 121 gain exclusion despite not meeting the standard criteria.
Change in Place of Employment – The most common reason for a partial exclusion is a job-related move that causes the taxpayer to sell their home before the 2-of-5 years tests were met. To meet the “safe harbor” for this category, your new place of work must be at least 50 miles farther from your home than your old workplace was. If you didn’t have a previous workplace, your new one must be at least 50 miles from the home you are selling.
- The taxpayer.
- The taxpayer’s spouse.
- A co-owner of the home.
- Anyone else for whom the home was their primary residence.
Health-Related Moves – A move is considered health-related if the primary reason is to obtain, provide, or facilitate the diagnosis, cure, mitigation, or treatment of a disease, illness, or injury. It also covers moving to provide medical or personal care for a family member. Note that a move for “general health and well-being” (e.g., moving to a warmer climate just because you like it) does not qualify; a doctor must generally recommend the change in residence.
- The taxpayer, spouse, or co-owner.
- Family members, specifically parents, grandparents, stepparents, children
- (including adopted, foster, or stepchildren), grandchildren, siblings, in-laws, aunts, uncles, nephews, and nieces.
- Any resident of the home.
Unforeseen Circumstances – An “unforeseen circumstance” is an event you could not have reasonably anticipated before purchasing and occupying the home. If your situation does not fit a specific safe harbor, the IRS looks at factors like whether the event and sale were close in time, or if your financial ability to maintain the home was materially impaired. But merely deciding after you’ve lived in a home for a while that you don’t like the neighborhood won’t qualify as an unforeseen circumstance.
The Safe Harbor List – The IRS provides a specific list of events that automatically qualify as unforeseen circumstances:
- Involuntary conversion (e.g., the home is destroyed or condemned).
- Natural or man-made disasters or acts of terrorism resulting in a casualty loss.
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Death of a qualified individual (taxpayer, spouse, co-owner, or resident).
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Divorce or legal separation.
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Eligibility for unemployment compensation.
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Change in employment status that leaves the taxpayer unable to pay basic living expenses (food, housing, taxes, etc.).
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Multiple births from the same pregnancy.
How the Partial Exclusion is Calculated – The partial exclusion is not a flat rate; it is a fraction of the maximum exclusion ($250,000 or $500,000).
- The Formula – You take the shortest of the following periods (in days or months) and divide it by 730 days (or 24 months):
- The time you owned the home during the 5-year period before the sale.
- The time you used the home as your primary residence during that same period.
- The time since you last claimed the Section 121 exclusion for another home.
Example: If you are a single filer who lived in your home for 12 months before moving for a new job 100 miles away, and had last claimed the exclusion 6 years ago, you have met 50% of the 24-month requirement. You can exclude $125,000 (50% of $250,000) of your gain from taxes.
Navigating IRS Section 121 can be complex, especially when determining if your specific “facts and circumstances” meet the threshold for an unforeseen event. If you are planning a move or have recently sold a home before reaching the two-year mark, please contact DBC for assistance in calculating your exclusion and ensuring your documentation meets IRS standards.
Why Spring Is the Perfect Time to Fix Your QuickBooks (Before Small Problems Get Expensive)
By springtime, most business owners have closed the books on last year, filed (or started filing) their taxes, and moved on. Here’s what many don’t realize: Spring is actually one of the most important …
By springtime, most business owners have closed the books on last year, filed (or started filing) their taxes, and moved on.
Here’s what many don’t realize: Spring is actually one of the most important times of the year to clean up QuickBooks.
Why? Because small bookkeeping issues that look harmless now often turn into expensive problems later, from missed deductions to cash flow surprises to tax-time headaches.
Here’s why March through May is the perfect checkpoint and what business owners should focus on right now.
Why QuickBooks Issues Show Up in the Spring
The first two months of the year are usually reactive. Businesses are:
• Closing the prior year
• Gathering documents for tax prep
• Reconciling year-end accounts
• Issuing 1099s
• Expenses landing in the wrong categories
• Duplicate or missing transactions
• Uncleared balances lingering for months
• Reports that don’t match reality
The Most Common QuickBooks Problems We See in Spring
Why Fixing It Now Saves Money Later
What Business Owners Should Do Right Now
- Review financial reports for accuracy
- Reconcile every account
- Clean up uncategorized transactions
- Meet with DBC for a “year-to-date”.
Even one focused DBC cleanup session can prevent hours of stress later.
QuickBooks Is a Tool, Not a Strategy
QuickBooks is excellent at tracking numbers. But it doesn’t evaluate them. It won’t tell you:
Estimated Tax Payments Are Not Just for the Self-Employed
Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making periodic estimated tax payments. These are referred to as estimated tax payments …
Unlike employees, who have income, Social Security, and Medicare taxes withheld from their wages, self-employed individuals must prepay their taxes by making periodic estimated tax payments. These are referred to as estimated tax payments because the self-employed individual must estimate his or her net earnings for the year and pay taxes per an IRS schedule according to that estimate. Failure to do so will result in interest penalties.
The self-employed are not the only ones who are subject to estimated tax payment requirements; anyone who has income on which no income tax has been withheld, and even those whose taxes are not sufficiently withheld, should be making estimated tax payments. Thus, if you have income from stock sales, property sales, investments, taxable alimony, partnerships, S-corporations, inherited pension plans, or other sources that are not subject to withholding, you may also be required to pay either estimated taxes or an underpayment penalty. Others subject to making estimated payments are individuals who must pay special taxes such as the 3.8% tax on net investment income or the employment tax on household employees.
Although these payments are often termed “quarterly” estimates, the periods they cover do not usually coincide with a calendar quarter.
2026 ESTIMATED TAX INSTALLMENTS DUE DATES
| Quarter | Period Covered | Months | Due Date |
|---|---|---|---|
| First | January through March | 3 | April 15th, 2026 |
| Second | April and May | 2 | June 15th, 2026 |
| Third | June through August | 3 | September 15th, 2026 |
| Fourth | September through December | 4 | January 15th, 2027 |
An underestimate penalty does not apply if the tax due on a return (after withholding and refundable credits) is less than $1,000; this is the “de minimis amount due” exception. When the tax due is $1,000 or more, underpayment penalties are assessed.
These underpayment penalties are determined per the periods as shown in the above table, so an underpayment in an earlier period cannot be made up for in a later period; however, an overpayment in an earlier period is applied to the following period.
The amount of an estimated payment is determined by estimating one fourth of the taxpayer’s tax for the entire year; the projected tax is paid in four installments. When the income is seasonal, sporadic, or the result of a windfall, the IRS provides a special form, and the underpayment penalty is based on actual income for the period.
For individuals who do not want to take the time to estimate their tax for the current year but who still want to avoid the underpayment penalty, Uncle Sam also provides safe-harbor estimates. However, even these can be tricky.
Generally, a taxpayer can avoid an underpayment penalty if his or her withholding and estimated payments are equal to or greater than:
When a Trust Complicates Farm Succession Planning
Keeping a farm in the family is rarely simple. It is not just about land or assets, but about legacy, relationships, and the responsibility of passing something meaningful to the next generation. Even with …
Keeping a farm in the family is rarely simple. It is not just about land or assets, but about legacy, relationships, and the responsibility of passing something meaningful to the next generation. Even with thoughtful planning, older estate documents can create challenges that were never anticipated, especially as circumstances change over time.
One situation that comes up more often than many families expect involves testamentary trusts. These trusts are often created to protect assets and provide structure, but years later they can limit flexibility when plans need to evolve.
When the Plan No Longer Fits the Reality
Consider a situation we often see in farm succession planning. A farmer lost his wife more than a decade ago, and as part of her estate plan, her share of the farmland was placed into a trust. The trust specifies that, after his passing, her portion of the property will be divided equally among their four children.
Since then, one of those children has stepped fully into the operation and built his future around farming. The father made a promise that he would find a way to keep the farm intact so his son could continue. The challenge is that the trust no longer reflects that goal, and it cannot be changed.
This is where many families find themselves. The plan made sense at the time, but life moved forward in ways no one fully anticipated.
Working With What You Can Control
Even when part of the plan is fixed, there is often still room to adjust other pieces. In this situation, the father still controls his share of the property, which gives him the ability to influence how things unfold.
He could choose to leave his portion of the home farm directly to the farming son. While that does not solve everything, it reduces the amount the son would need to purchase from his siblings. Another option is to balance things by allocating additional land from another parcel, helping create a more workable outcome for everyone involved.
These adjustments may not be perfect, but they can move the family closer to the original intention.
Looking at the Numbers Differently
In some cases, the solution is not about changing the structure, but about adjusting how value is shared.
If the trust requires full market value for its portion, the father may be able to offset that by offering more favorable terms on the assets he controls. A deeper discount on his share can help create a similar overall outcome to what the family originally envisioned.
This approach requires careful planning, but it can help balance fairness across the family while still supporting the goal of keeping the farm intact.
Having the Conversation Now, Not Later
In many situations, the most important step is simply having an open conversation.
If the goal is to keep the farm operating, it helps to bring the family together and talk through what that means in practical terms. Would the other children be open to allowing their sibling to purchase the land over time? Do they share the same long-term vision for the farm?
These discussions are not always easy, but they are far easier to have now than during a time of loss. When expectations are clear, families are better positioned to move forward together.
Setting Expectations With Care
One of the more difficult moments for any family is when a will is read and something feels unexpected. Without context, decisions can feel unfair, even when they were made with good intentions.
Taking the time to explain the reasoning behind the plan can make a meaningful difference. When family members understand the limitations created by the trust and the goal of preserving the farm, they are more likely to see the full picture.
Planning With the Future in Mind
Situations like this are a reminder that estate plans should not remain static. Over time, land values change, tax rules shift, and family roles evolve. What worked years ago may not support the same outcome today.
Revisiting these plans periodically gives families the opportunity to adjust while options are still available. It also creates space to think through both the financial and personal aspects of succession.
At its core, farm succession is about more than transferring property. It is about creating a path forward for the next generation while maintaining fairness across the family. With thoughtful planning and clear communication, it is possible to move closer to both.
At DBC, we work with agricultural businesses and families to bring structure and clarity to these conversations. By focusing on long-term goals and practical realities, we help guide decisions that support both the operation and the people behind it.
To read the full article by Mark McLaughlin visit https://www.agriculture.com/how-to-keep-the-farm-in-the-family-when-a-trust-gets-in-the-way-11825875
U.S. Farm Income Expected to Decline in 2026 Despite Increase in Government Payments
The financial outlook for U.S. agriculture is showing signs of strain. According to the U.S. Department of Agriculture, net farm income is projected to decline in 2026, even as government support reaches levels not …
The financial outlook for U.S. agriculture is showing signs of strain. According to the U.S. Department of Agriculture, net farm income is projected to decline in 2026, even as government support reaches levels not seen in several years.
At first glance, the change appears modest. Net farm income is expected to fall ~0.7% to $153 billion. After adjusting for inflation, the decline is more pronounced, dropping $4 billion, or ~2.6% from the prior year. What stands out is how much of that income is being supported by government programs.
A Larger Share of Income Coming From Government Payments
Government payments are expected to account for nearly 29% of total farm income in 2026. Without that support, the picture changes significantly. USDA data shows net farm income would fall nearly 12% to $109 billion.
That shift highlights a growing reliance on federal programs to stabilize farm operations. As one agricultural advisor noted, government payments are doing much of the work in supporting crop producers right now.
Support Levels Not Seen Since Recent Disruptions
USDA projects direct government payments will reach $30.5 billion in 2025 and increase to $44.3 billion in 2026, not including crop insurance indemnities. These levels have not been seen since 2020 and 2021, when pandemic disruptions and trade challenges led to similar support.
The increase is tied to Farm Bill programs responding to lower crop prices, along with continued supplemental and disaster assistance.
At the same time, many producers are carrying higher levels of debt while depending more heavily on these payments to cover operating costs.
What Is Driving the Pressure
Several factors are contributing to the current environment:
- Lower crop prices influenced by global supply levels
- A surplus in grain markets
- Lost export demand tied to past trade policies
- Ongoing pressure from operating costs, even as some inputs begin to stabilize
While fuel and pesticide costs are expected to decline, overall financial pressure remains.
A Mixed Outlook Across Commodities
Income expectations vary across the agricultural sector:
- Corn receipts are expected to increase
- Soybean receipts are projected to remain relatively steady
- Wheat receipts are expected to decline
- Livestock receipts may fall due to lower egg and milk prices
- Cattle receipts are expected to continue rising
This uneven performance adds another layer of complexity for farm operators managing multiple revenue streams.
A Broader Concern Across the Industry
Lawmakers and industry leaders are raising concerns about the direction of the farm economy. Some have pointed to growing financial stress among producers, while others have warned of the potential for broader instability if conditions do not improve.
The USDA’s February report, which incorporated delayed data due to a prior government shutdown, has made it more difficult for economists to fully assess the pace and depth of these challenges.
What This Means for Farm Operations
For many farm owners, the concern is not just this year’s numbers. It is what those numbers suggest about long-term stability.
When a larger share of income comes from external support rather than core operations, it becomes harder to plan with confidence. Cash flow, debt management, and future investment decisions all become more sensitive to factors outside of day-to-day operations.
This is where financial clarity becomes especially important. Understanding how your operation performs both with and without government support can provide a more complete view of risk.
Moving Forward With a Clearer View
Agriculture has always faced cycles, but the current environment is a reminder that strong production alone does not guarantee strong financial results. A record harvest can still lead to tighter margins when prices are under pressure.
At DBC, we work with agricultural businesses to help bring clarity to these situations. By focusing on cash flow, cost structure, and long-term planning, we help you make informed decisions in an environment that continues to shift.
To read the full article by P.J. Huffstutter visit US farm income set to fall in 2026 despite surge in government payments | Reuters
Farmland Lease Checklist: 10 Essential Elements Every Agreement Should Include
A farmland lease is more than a document. It sets the tone for the working relationship between a landowner and a farmer. When expectations are clear from the start, it becomes much easier to …
A farmland lease is more than a document. It sets the tone for the working relationship between a landowner and a farmer. When expectations are clear from the start, it becomes much easier to avoid misunderstandings later on.
Some leases are built on long-standing relationships and trust. That foundation matters, but even the strongest relationships benefit from clarity. A well-structured lease helps both parties understand their responsibilities and protects the future of the land.
Whether you are creating a lease for the first time or revisiting one that has been in place for years, there are several core elements worth reviewing.
1. Put the Agreement in Writing
Verbal agreements still exist in agriculture, but they often lead to problems. Many disputes can be traced back to details that were never clearly documented.
Putting the agreement in writing is not about mistrust. It is about preserving the relationship by making sure everyone is aligned from the beginning.
2. Use the Correct Legal Names and Property Description
A lease should clearly identify who is involved. That means using full legal names for both the landowner and the tenant, especially when entities such as LLCs or corporations are involved.
It is just as important to describe the land accurately. Including parcel numbers, acreage, and location ensures there is no confusion about what is being leased.
3. Clearly Define the Lease Term
Every lease should outline when it begins and when it ends. It should also explain whether the agreement renews automatically and what notice is required if either party decides not to continue.
State laws may influence these timelines, so it is important to make sure the lease aligns with those requirements.
4. Be Specific About Rent and Payment Terms
Rent should be clearly defined. Whether the agreement is based on cash rent, crop share, or a hybrid approach, both parties should understand how payments are calculated and when they are due.
It is also helpful to clarify how government payments are handled and what happens if the land is enrolled in a conservation program.
5. Outline Operator Responsibilities
The lease should explain what is expected from the tenant. This typically includes maintaining the land, following appropriate farming practices, and complying with state and federal regulations.
It may also address how soil conditions and inputs are managed throughout the lease term.
6. Define Landowner Responsibilities
A strong lease works both ways. Landowners may have responsibilities such as disclosing known issues on the property or supporting improvements like drainage or conservation practices.
Clear expectations on both sides help prevent future disagreements.
7. Address Fertilizer and Input Costs
Input costs can create confusion if they are not clearly outlined. The lease should explain who is responsible for different types of fertilizer and how those costs are shared.
Agreeing on this structure in advance helps avoid issues during the growing season.
8. Include Insurance Requirements
Risk is part of farming, and a lease should address how that risk is managed. Both the landowner and the tenant should maintain appropriate liability coverage.
Clear insurance requirements help protect everyone involved if an accident occurs on the property.
9. Include Hold-Harmless and Indemnity Provisions
Leases often include provisions that limit liability and define how responsibility is handled if something goes wrong. Hold-harmless and indemnity clauses help protect both parties when used appropriately.
These sections may feel technical, but they play an important role in managing risk.
10. Plan for the End of the Lease
It is just as important to define how a lease ends as it is to define how it begins. The agreement should explain what happens when the lease term expires, including access to the property, harvest rights, and transition to a new tenant if needed.
It may also address subleasing and how ownership changes could affect the agreement.
Building a Stronger Foundation
A well-crafted lease creates clarity, reduces uncertainty, and supports a stronger working relationship. It allows both parties to focus on the operation rather than worrying about what was or was not agreed upon.
At DBC, we work with agricultural businesses and landowners to bring clarity to these types of agreements. With the right structure in place, you can move forward with greater confidence and fewer surprises.
To read the full article by Cassidy Walter and Shawn Williamson visit https://www.agriculture.com/farmland-lease-checklist-10-essential-elements-every-lease-agreement-should-include-11746678
Employee Spotlight: Trinity Kuipers
Since joining De Boer, Baumann & Company in 2026, Trinity Kuipers has brought curiosity, energy, and a thoughtful perspective to her role as a Staff Accountant. She enjoys understanding the story behind the numbers …
Since joining De Boer, Baumann & Company in 2026, Trinity Kuipers has brought curiosity, energy, and a thoughtful perspective to her role as a Staff Accountant. She enjoys understanding the story behind the numbers and the way financial insights can reveal challenges, highlight opportunities, and support better business decisions.
Trinity earned her Bachelor’s degree in Accounting from Davenport University. Her interest in accounting grew from firsthand experience running her own small business, where she saw how critical accurate financial information is to the daily operations and long-term success of a company. That experience continues to shape how she approaches her work today, giving her a practical perspective on the value that clear financial insight can provide to business owners.
Trinity grew up in Zeeland with her parents and two sisters and now lives on the north side of Holland with her husband. Being close to family is something she values deeply, and she enjoys the strong sense of community that comes with living and working in West Michigan.
Outside of her role at the firm, Trinity has a strong entrepreneurial spirit. During the summer months, she runs an ice cream shop with her sisters, a business she has proudly owned for eight years. Managing the shop has given her valuable experience working directly with customers, leading a team, and navigating the day-to-day realities of running a business.
Travel is another passion of Trinity’s. She enjoys exploring new places and cultures and has traveled throughout Europe, Africa, and Central America. These experiences have given her a broader perspective and a deeper appreciation for the people and communities she encounters along the way.
Trinity’s curiosity, work ethic, and entrepreneurial mindset make her a great addition to the team. We are excited to have her at DBC and look forward to seeing the impact she will continue to make.