Producers should expect to soon receive statements of 2008 Farm Service Agency and Commodity Credit Corp. payments reportable as income to the Internal Revenue Service on form CCC-1099G.
The form will be mailed to producers by FSA?s Kansas City financial center. Payment earning totals from the Direct & Counter-cyclical Program, Conservation Reserve Program, Crop Disaster Program and various other U.S. Department of Agriculture benefit payments will be itemized on the form.
Those producers that might have made refunds of any unearned USDA payment during 2008 should contact their applicable county FSA office to obtain this information for use in tax preparation.
CCC-1099G statements are designed to serve only as a guide in recognizing taxable federal agricultural payments and should not be used to replace a producer?s record keeping structure or system.
If significant differences are found when comparing records to the statements, the differences can be discussed with local county FSA personnel.
Any filing advisement or other legal assistance must be obtained strictly from a personal tax professional.
Also, wool and mohair producers are reminded that they have only until Feb. 2, to apply for nine-month nonrecourse market assistance loans or loan deficiency payments on 2008 production at their FSA county office. This deadline also applies to LDPs for unshorn pelts from lambs slaughtered in 2008.
Bill Harmon is executive director of the Marion County FSA office.
