For Immediate Release
September 27, 2012
Contact:
FSA Website: http://www.fsa.usda.gov/ne
Farm Service Agency Changes Reporting Methods of IRS Forms 1099-G and 1099-MISC
LINCOLN, NE (September 27, 2012) – In accordance with the Internal Revenue Codes, the Farm Service Agency (FSA) will change how it provides IRS Forms 1099-G and 1099-MISC to producers. "Beginning with 2012, these forms will not be issued by FSA to recipients that received less than $600 in the calendar year" stated Dan Steinkruger, State Executive Director for FSA.
The Farm Service Agency is issuing 2012 final direct payments under the 2008 Farm Bill and Conservation Reserve Program (CRP) payments to farmers and landowners in October 2012. Many of these payments are less than $600. Producers need to retain the record accompanying the check or the direct deposit statement for 2012 income tax purposes.
An additional budget saving step taken by FSA is to consolidate reporting information from multiple counties into a single 1099-G or 1099-MISC form. Producers are encouraged to maintain small payment records and/or contact their tax advisor to determine if these payments need to be reported on their tax returns.
Contact your local Farm Service Agency for additional information.
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