Producers should soon expect to receive their statements of 2007 Farm Service Agency and Commodity Credit Corp. payments reportable as income to the Internal Revenue Service on form CCC-1099G mailed to them by FSA’s Kansas City financial center.
Payment earning totals from the Direct & Counter-cyclical Program, Conservation Reserve Program and various other USDA benefit payments will be itemized on the form.
Those producers that incurred refunds during 2007 should contact their applicable county FSA office to obtain this information for use in their tax preparation processing.
CCC-1099G statements are designed to serve only as a guide in recognizing taxable federal agricultural payments and should not be used to replace your own record keeping struture or system.
If significant differences are found when comparing your records to the statements, they can be discussed with your local county FSA personnel. Any filing advisement or other legal assistance must be obtained from your personal tax professional.
Bill Harmon is executive director of the Marion County FSA office.
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