Looking for a Form 990-c Templates? Download it for free!

association organized and operated on a

is available for all timely filed income tax

date (excluding extensions) for filing the

cooperative basis to:

returns without regard to the requirements

cooperative’s 2004 tax return.

of section 6072(d).

1. Market the products of members or

Other Forms and

other producers and return to them the

Where To File

proceeds of sales, less necessary

Statements That May Be

marketing expenses, on the basis of

File Form 990-C with the Internal

either the quantity or value of their

Required

Revenue Service, Ogden, UT

products; or

84201-0027.

2. Purchase supplies and equipment

Forms

for the use of members or other persons

Who Must Sign

The cooperative may have to file some of

and turn over the supplies and equipment

the following forms. See the form for more

The return must be signed and dated by:

to them at actual cost, plus necessary

•

information.

The president, vice president,

expenses.

•

Form W-2, Wage and Tax Statement,

treasurer, assistant treasurer, chief

A member is anyone who shares in

and Form W-3, Transmittal of Wage and

accounting officer or

•

the profits of a cooperative association

Any other cooperative officer (such as

Tax Statements. Use these forms to

and is entitled to participate in the

tax officer) authorized to sign.

report wages, tips, and other

management of the association.

compensation, and withheld income,

Receivers, trustees, or assignees also

social security, and Medicare taxes for

must sign and date any return filed on

A producer is a person who, as owner

behalf of a cooperative.

employees.

or tenant, bears the risk of production and

•

If an employee of the cooperative

receives income based on farm

Form 720, Quarterly Federal Excise

completes Form 990-C, the paid

production rather than fixed

Tax Return. Use this form to report and

preparer’s space should remain blank.

compensation. For example, if a

pay environmental taxes, communications

Anyone who prepares Form 990-C but

cooperative leases its land to a tenant

and air transportation taxes, fuel taxes,

does not charge the cooperative should

farmer who agrees to pay a rental fee

manufacturers taxes, ship passenger

not complete that section. Generally,

based on a percentage of the farm crops

taxes, and certain other excise taxes.

•

anyone who is paid to prepare the return

produced, both the landowner and the

Form 851, Affiliations Schedule. The

must sign it and fill in the “Paid Preparer’s

tenant farmer qualify as producers.

parent corporation of an affiliated group of

Use Only” area.

corporations must attach this form to its

When To File

consolidated return. If this is the first year

The paid preparer must complete the

one or more subsidiaries are being

A cooperative may file its income tax

required preparer information and —

•

included in a consolidated return, also

return by the 15th day of the 9th month

Sign the return in the space provided

see Form 1122, Authorization and

after the end of its tax year provided it

for the preparer’s signature.

•

Consent of Subsidiary Corporation To Be

meets the requirements of section

Give a copy of the return to the

Included in a Consolidated Income Tax

6072(d) prior to filing. Any cooperative

taxpayer.

Return, on page 3.

not meeting the requirements of section

Paid Preparer Authorization

•

Form 926, Return by a U.S. Transferor

6072(d) must file its income tax return by

of Property to a Foreign Corporation. Use

the 15th day of the 3rd month after the

If the cooperative wants to allow the IRS

to discuss its 2003 tax return with the paid

this form to report certain transfers to

end of its tax year.

foreign corporations under section 6038B.

preparer who signed it, check the “Yes”

If the due date falls on a Saturday,

•

box in the signature area of the return.

Form 940 or Form 940-EZ, Employer’s

Sunday, or legal holiday, the cooperative

This authorization applies only to the

Annual Federal Unemployment (FUTA)

may file on the next business day.

individual whose signature appears in the

Tax Return. The cooperative may be

Private delivery services. Cooperatives

“Paid Preparer’s Use Only” section of the

liable for FUTA tax and may have to file

can use certain private delivery services

cooperative’s return. It does not apply to

Form 940 or Form 940-EZ if it either:

designated by the IRS to meet the “timely

the firm, if any, shown in that section.

1. Paid wages of $1,500 or more in

mailing as timely filing/paying” rule for tax

any calendar quarter in 2002 or 2003 or

If the “Yes” box is checked, the

returns and payments. The most recent

cooperative is authorizing the IRS to call

2. Had one or more employees who

list of designated private delivery services

the paid preparer to answer any

worked for the cooperative for at least

was published by the IRS in September

questions that may arise during the

some part of a day in any 20 or more

2002. The list includes only the following:

•

processing of its return. The cooperative

different weeks in 2002 or 20 or more

Airborne Express (Airborne): Overnight

is also authorizing the paid preparer to:

different weeks in 2003.

Air Express Service, Next Afternoon

•

Give the IRS any information that is

Service, and Second Day Service.

Form 941, Employer’s Quarterly

•

missing from the return,

DHL Worldwide Express (DHL): DHL

Federal Tax Return or Form 943,

•

Call the IRS for information about the

“Same Day” Service, and DHL USA

Employer’s Annual Federal Tax Return

processing of the return or the status of

Overnight.

for Agricultural Employees. Employers

•

any related refund or payment(s), and

Federal Express (FedEx): FedEx

must file these forms to report income tax

•

Respond to certain IRS notices that the

Priority Overnight, FedEx Standard

withheld, and employer and employee

cooperative has shared with the preparer

Overnight, FedEx 2Day, FedEx

social security and Medicare taxes. Also,

about math errors, offsets, and return

International Priority, and FedEx

see Trust fund recovery penalty on

preparation. The notices will not be sent

International First.

page 5.

•

to the preparer.

United Parcel Service (UPS): UPS Next

Form 945, Annual Return of Withheld

The cooperative is not authorizing the

Day Air, UPS Next Day Air Saver, UPS

Federal Income Tax. File Form 945 to

paid preparer to receive any refund

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

report income tax withheld from

check, bind the cooperative to anything

Worldwide Express Plus, and UPS

nonpayroll distributions or payments,

(including any additional tax liability), or

Worldwide Express.

including pensions, annuities, IRAs,

otherwise represent the cooperative

The private delivery service can tell

gambling winnings, and backup

before the IRS. If the cooperative wants

you how to get written proof of the mailing

withholding. Also, see Trust fund

to expand the paid preparer’s

date.

recovery penalty on page 5.

authorization, see Pub. 947, Practice

•

Extension. File Form 7004, Application

Form 966, Corporate Dissolution or

Before the IRS and Power of Attorney.

for Automatic Extension of Time To File

Liquidation. Use this form to report the

Corporation Income Tax Return, to

The authorization cannot be revoked.

adoption of a resolution or plan to

request a 6-month extension of time to

However, the authorization will

dissolve the cooperative or liquidate any

file. The 6-month extension of time to file

automatically end no later than the due

of its stock.

-2-

Instructions For Form 990-C - Farmers' Cooperative Association Income Tax Return - Internal Revenue Service - 2003 Page 2

Related Articles

Related forms

Related Categories