Friday, August 31, 2012
Skowhegan, ME, August 31, 2012 –Somerset County USDA Farm Service Agency (FSA) Executive Director Elaine Moceus, announced that calendar year 2012 brings several changes to the way FSA reports a producer’s farm program payments to the producer and to IRS.
In past years, IRS Forms 1099-G would be issued to show all program payments received from the Farm Service Agency, regardless of the amount.
"Starting with calendar year 2012, producers whose total reportable payments from FSA are less than $600 will not receive IRS Form 1099-G (Report of Payments to Producers)," said Moceus. Additionally, producers who receive payments from more than one county will only receive one Form 1099-G if the total of all payments from all counties is $600 or more, Moceus said.
"Producers who receive less than $600 in combined payments should consult a tax advisor to determine if these payments must be reported on their tax return," she said.
If the payments were subject to voluntary withholdings or subject to backup (involuntary) withholdings a Form 1099-G will be issued regardless of the total amount of the payments, Moceus said.
The same changes will apply to producers and vendors who normally receive IRS Form 1099-MISC from FSA.
For more information regarding IRS reporting changes, please contact the Somerset County FSA office at (207) 474-8323
Thursday, August 30, 2012
MAINE - The United States Department of Agriculture (USDA) that farmers in a number of Maine counties are now eligible for disaster assistance through the Farm Service Agency (FSA) due to losses caused by multiple disasters during the 2012 crop year.
“Our state’s farmers have experienced several natural disasters during this crop year, so the approval of this assistance is definitely welcome news,” said Michaud. “I encourage Mainers to contact their local Farm Service Agency office to learn more about how these programs can help.”
According to the USDA, farmers have 8 months to apply for emergency loan assistance. For more information on FSA programs and eligibility requirements, Mainers should contact the Maine FSA office at 207-990-9140 or visit the FSA website.
Details supplied by USDA on the disaster declarations and the Maine counties eligible for assistance can be found below.
Designation #1: The combined effects of frost, freezes, and hailstorms that occurred during the period of April 26 through June 23, 2012.
- Primary counties: Androscoggin, Cumberland, Oxford and York
- Benefits are also available for the contiguous counties of Franklin, Kennebec and Sagadahoc
Designation #2: Excessive rain that occurred from June 15 through June 30, 2012.
- Primary county: Penobscot
- Benefits are also available for the contiguous counties of Aroostook, Hancock, Piscataquis, Somerset, Waldo and Washington