The legislation signed into law on March 9, 2002, the Job Creation and Worker Assistance Act of 2002, contained a highly important provision for farm and ranch (and other) taxpayers—an additional depreciation allowance of 30 percent of the adjusted income tax basis of qualifying property. In late April, the Internal Revenue Service issued needed guidance on how the depreciation allowance can be claimed and what should be done if the taxpayer does not wish to claim the 30 percent allowance.