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The Internal Revenue Bulletin.

list of designated private delivery services

Call the IRS for information about the

Buy the CD-ROM on the Internet at

was published by the IRS in October

processing of the return or the status of

from the National

2001. The list includes only the following:

any related refund or payment(s), and

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Technical Information Service (NTIS) for

Airborne Express (Airborne): Overnight

Respond to certain IRS notices that the

$21 (no handling fee), or call

Air Express Service, Next Afternoon

cooperative has shared with the preparer

1-877-CDFORMS (1-877-233-6767) toll

about math errors, offsets, and return

Service, Second Day Service.

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free to buy the CD-ROM for $21 (plus a

preparation. The notices will not be sent

DHL Worldwide Express (DHL): DHL

$5 handling fee).

to the preparer.

“Same Day” Service, DHL USA

The cooperative is not authorizing the

Overnight.

By phone and in person. You can order

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paid preparer to receive any refund

Federal Express (FedEx): FedEx

forms and publications 24 hours a day, 7

check, bind the cooperative to anything

Priority Overnight, FedEx Standard

days a week, by calling

(including any additional tax liability), or

Overnight, FedEx 2Day.

1-800-TAX-FORM (1-800-829-3676). You

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otherwise represent the cooperative

United Parcel Service (UPS): UPS Next

can also get most forms and publications

before the IRS. If the cooperative wants

Day Air, UPS Next Day Air Saver, UPS

at your local IRS office.

to expand the paid preparer’s

2nd Day Air, UPS 2nd Day Air A.M., UPS

authorization, see Pub. 947, Practice

Worldwide Express Plus, and UPS

General Instructions

Before the IRS and Power of Attorney.

Worldwide Express.

The private delivery service can tell

The authorization cannot be revoked.

you how to get written proof of the mailing

Purpose of Form

However, the authorization will

date.

automatically end no later than the due

Use Form 990-C, Farmers’ Cooperative

date (excluding extensions) for filing the

Extension. File Form 7004, Application

Association Income Tax Return, to report

cooperative’s 2002 tax return.

for Automatic Extension of Time To File

income, gains, losses, deductions,

Corporation Income Tax Return, to

credits, and to figure the income tax

Where To File

request a 6-month extension of time to

liability of the cooperative.

file.

File Form 990-C with the Internal

Who Must File

Revenue Service, Ogden, UT

Who Must Sign

Every farmers’ cooperative association

84201-0027.

must file Form 990-C whether or not the

The return must be signed and dated by:

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association has taxable income

Other Forms, Returns,

The president, vice president,

(Regulations section 1.6012-2(f)).

treasurer, assistant treasurer, chief

Schedules and Statements

Generally, a farmers’ cooperative is

accounting officer or

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a farmers, fruit growers, or like

That May Be Required

Any other cooperative officer (such as

association organized and operated on a

tax officer) authorized to sign.

cooperative basis to:

Receivers, trustees, or assignees also

Forms

must sign and date any return filed on

1. Market the products of members or

The cooperative may have to file some of

behalf of a cooperative.

other producers and return to them the

the following forms. See the form for more

If an employee of the cooperative

proceeds of sales, less necessary

information.

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completes Form 990-C, the paid

marketing expenses, on the basis of

Form W-2, Wage and Tax Statement,

preparer’s space should remain blank. In

either the quantity or value of their

and Form W-3, Transmittal of Wage and

addition, anyone who prepares Form

products; or

Tax Statements. Use these forms to

990-C but does not charge the

2. Purchase supplies and equipment

report wages, tips, and other

cooperative should not complete that

for the use of members or other persons

compensation, and withheld income,

section. Generally, anyone who is paid to

and turn over the supplies and equipment

social security, and Medicare taxes for

prepare the return must sign it and fill in

to them at actual cost, plus necessary

employees.

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the “Paid Preparer’s Use Only” area.

expenses.

Form 720, Quarterly Federal Excise

Tax Return. Use this form to report and

A member is anyone who shares in

The paid preparer must complete the

pay luxury tax on passenger vehicles,

the profits of a cooperative association

required preparer information and —

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environmental taxes, communications

and is entitled to participate in the

Sign the return, by hand, in the space

and air transportation taxes, fuel taxes,

management of the association.

provided for the preparer’s signature.

manufacturers taxes, ship passenger

(Signature stamps and labels are not

A producer is a person who, as owner

taxes, and certain other excise taxes.

acceptable.)

or tenant, bears the risk of production and

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Form 851, Affiliations Schedule. The

Give a copy of the return to the

receives income based on farm

parent corporation of an affiliated group of

taxpayer.

production rather than fixed

corporations must attach this form to its

compensation. For example, if a

consolidated return. If this is the first year

Paid Preparer Authorization

cooperative leases its land to a tenant

one or more subsidiaries are being

farmer who agrees to pay a rental fee

If the cooperative wants to allow the IRS

included in a consolidated return, also

based on a percentage of the farm crops

to discuss its 2001 tax return with the paid

see Form 1122, Authorization and

produced, both the landowner and the

preparer who signed it, check the “Yes”

Consent of Subsidiary Corporation To Be

tenant farmer qualify as producers.

box in the signature area of the return.

Included in a Consolidated Income Tax

This authorization applies only to the

Return, on page 3.

When To File

individual whose signature appears in the

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Form 926, Return by a U.S. Transferor

“Paid Preparer’s Use Only” section of the

Generally, a cooperative must file its

of Property to a Foreign Corporation. Use

cooperative’s return. It does not apply to

income tax return by the 15th day of the

this form to report certain transfers to

the firm, if any, shown in that return.

9th month after the end of its tax year.

foreign corporations under section 6038B.

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Form 940 or Form 940-EZ, Employer’s

If the due date falls on a Saturday,

If the “Yes” box is checked, the

Annual Federal Unemployment (FUTA)

Sunday, or legal holiday, the cooperative

cooperative is authorizing the IRS to call

may file on the next business day.

Tax Return. The cooperative may be

the paid preparer to answer any

liable for FUTA tax and may have to file

Private delivery services. Cooperatives

questions that may arise during the

Form 940 or Form 940-EZ if either of the

can use certain private delivery services

processing of its return. The cooperative

following applies:

is also authorizing the paid preparer to:

designated by the IRS to meet the “timely

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mailing as timely filing/paying” rule for tax

Give the IRS any information that is

1. It paid wages of $1,500 or more in

returns and payments. The most recent

missing from the return,

any calendar quarter in 2000 or 2001 or

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Instructions For Form 990-C - Farmers' Cooperative Association Income Tax Return - 2001 Page 2

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