TaxNewsFlash-Cooperatives

June 29, 2009
No. 2009-02

IRS Does Not Propose Changes to Form 1099-PATR

An IRS notice published in today’s edition of the Federal Register concerns Form 1099-PATR, Taxable Distributions Received From Cooperatives, which is used by cooperatives to report patronage dividends pursuant to the rules under section 6044.

Today’s IRS notice states that no changes are being made to Form 1099-PATR at this time. However, in compliance with OMB requirements, the IRS is soliciting comments concerning Form 1099-PATR, including whether there are ways to enhance the quality, utility, and clarity of the information and ways to minimize the burdens relating to this form. Comments concerning Form 1099-PATR must be filed with the IRS on or before August 28, 2009.

For an electronic version of today’s release: Federal Register, IRS Notice (June 29, 2009)

For more information, contact KPMG’s National Director of Cooperative Tax Services:

Teree Castanias, in Sacramento, (916) 554-1146, tcastanias@kpmg.com

David Antoni, in Philadelphia, (267) 256-1627, dantoni@kpmg.com

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