FSA Andy

Hello again!

I hope you read this article weekly … because I requested a few snow flurries. It appears I was granted my wish.

This article is always the hardest one for me to write — the last of 2012. I am a person who reflects on not only this year, but on years gone by.

I love to recall snowboarding on cookie sheets in our pasture field, snowmobiling until my fingers were numb and mornings of checking the trap line with my dad and brother. I hope each of you have those times to reminisce on as well.

All things change, including FSA forms, IRS Forms 1099-G and 1099-Misc for Calendar Year 2012. In past years, IRS Forms 1099-G were issued to show all program payments received from the Farm Service Agency, regardless of the amount.

Change

For calendar year 2012, the 1099-G reporting will change. IRS Form 1099-G (Report of Payments to Producers) will only be issued to producers whose reportable payments total $600 or more for the calendar year.

Additionally, if the producer has at least $600 in reportable payments received from multiple FSA offices, only one Form 1099-G will be issued.

Producers subject to voluntary withholding or backup (involuntary) withholding will receive the appropriate IRS form, even if combined payments are less than $600. The same changes will apply to producers and vendors who normally receive IRS Form 1099-MISC from FSA.

Assistance Any producer who receives less than $600 in combined payments should consult a tax adviser to determine if these payments must be reported on their tax return.

Well if you wonder what the motive was in writing about tax forms … I guess I am trying to inspire you to get working on those farm books. Wishing you a happy and prosperous new year!

That’s all for now,

FSA Andy

About the Author

FSA Andy is written by USDA Farm Service Agency county executive directors in northeastern Ohio. More Stories by FSA Andy

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