The 2012 IRS 1099 forms issued to farmers and ranchers who received NRCS financial assistance are incorrect and are scheduled to be reissued by USDA’s Office of the Chief Financial Officer in March.
The IRS forms issued in January may either be in the wrong amount or no 1099 was issued when one should have been.
Important data to produce correct 1099 information was left out when a system change took place May 1, 2012. NRCS financial experts are working with the USDA’s Controller Operations Division to help get the thousands of 1099s to the appropriate people as quickly as possible.
At this time there is no guaranteed date by which the 1099’s will be delivered, although they expect to be released March 8. USDA is working to ensure a quick turnaround so that the 1099 mailing is expedited. The Chief Financial Officer will keep NRCS officials informed as this issue is resolved.
Source: brownfieldagnews.com
