1964 Revenue Act--Provisions of Significance to Farmers

The Revenue Act of 1964 was signed into law by the President on February 26, 1964. This marked the first major overhaul of the Federal Income Tax in a decade. These changes will affect every taxpayer. Several provisions will particularly affect farmers' tax liabilities and their after-tax incomes. The general economic stimulation expected from these changes is also of considerable significance to farmers.