Hello again!
The weather, the weather, the weather!
Lately it sounds like a curse word. I realize it is only March, and yes, I know spring will come eventually. It just feels like it has been a very long winter. For me, it isn’t about getting into a field to get it planted. In my house it’s all about getting on a softball field.
This year I will enjoy my daughter’s last year of high school watching her play first base on the JM Lady Jays softball team. She hopes the passion she feels for the game will be reflected in the new and younger members of her team.
She feels the loss of girls that graduated last year and that brings additional pressure to follow in the footsteps of those that represented the school before her. So I watch the weather — will we play tonight or won’t we?
Watching and waiting
All the while, I know farmers are waiting for those few perfect weeks to put all of their money into the ground. Also, following in the footsteps of those that tilled the ground before them, they try to glean years of accumulated information from their parents so they can pass it down to the next generation. And then they wait until the fall and hopefully a profitable return on their investment.
My daughter’s softball team hopes to win, but our country has a common goal each year in hoping for an abundant harvest to keep our grocery prices low, which keeps the nation’s belliess full and our farmers existing for another year.
Until the sun shines for more than two days in a row, here are some reminders and updates for the upcoming months.
Changes to IRS Forms 1099-G and 1099-Misc for Calendar Year 2013: In past years, IRS Forms 1099-G were issued to show all program payments received from the Farm Service Agency, regardless of the amount. For calendar year 2013, the 1099-G reporting has changed.
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.
Any producer who receives less than $600 in combined payments should consult a tax advisor to determine if these payments must be reported on their tax return.
Marketing Assistance Loans: A Marketing Assistance Loan (MAL) is available for producers who share in the risk of producing an eligible commodity. To be eligible, a producer must maintain continual beneficial interest in the eligible commodity.
Commodity loan eligibility also requires compliance with conservation and wetland protection requirements; beneficial interest requirements, acreage reporting, and ensuring that the commodity meets Commodity Credit Corporation minimum grade and quality standards.
FSA offers MALs on honey, wool and an assortment of grains, and other approved agricultural commodities.
Violating provisions may trigger administrative actions, such as assessing liquidated damages, or denial of future farm-stored loans. The most common violations are removing or disposing of a commodity being used as loan collateral without prior authorization and providing an incorrect quantity certification.
Dates to remember
March 31: Final availability for 2013 crop wheat, barley, oats, honey loans and LDPs.
June 2: Deadline to apply for 2013 commodity loans and LDP’s on feed grains, soybeans, pulse crops.
July 15: Final date to submit 2013 production for ACRE participants.
That’s all for now,
FSA Andy
