End Rows for Feb. 5, 2013

Thursday, February 7, 2013

Enbridge pipeline

If the Enbridge pipeline is going to go through your CRP ground, please contact the FSA office administering the contract as soon as possible.

There is some action required on your part if you want to continue that area in the CRP contract.

--The county committee must authorize the use of the CRP land for that purpose

--Before they can do that you will need to provide the committee details of the proposed use, including length of time the project will take. This request must be in writing.

--NRCS will have to certify that the usage will have minimal effect, including:

Erosion is kept to a minimum

Minimum effect on wildlife and wildlife habitat

Minimum effect on water and air quality

--The participant must restore the cover, at their own expense, to disturbed land in the timeframe set by the county committee.

NRCS will determine whether the disturbance will have an adverse effect on the land.

If it's determined that the use will have an adverse effect on CRP acreage, the affected acreage will have to be terminated and refunds assessed.

Failure to obtain approval prior to a pipeline being installed on CRP acres could result in a violation and termination of the acres affected.

February interest rates

The interest rates for CCC programs for February:

--1.125 percent for 2012 crop year commodity loans

--1.25 percent for 7-year Farm Storage Facility Loans

--1.875 percent for 10-year Farm Storage Facility Loans

--2.125 percent for 12-year Farm Storage Facility Loans

--1.125 percent for Farm Loan direct Operating Loans

--3.125 percent for Farm Loan direct Farm Ownership Loans

Farming operation changes

Producers who have bought or sold land, or added or dropped rented land from their operation must report those changes to the FSA office as soon as possible.

A copy of the deed or recorded land contract for purchase property is needed to maintain accurate records with FSA.

Failure to do so can lead to possible program ineligibility and penalties.

While making record updates, be sure to update signature authorizations.

Making record changes now will save time when you sign up for 2013 DCP/ACRE.

IRS 1099 Changes

For calendar year 2012, the 1099-G reporting will change.

IRS-Form 1099-G will only be issued to producers whose reportable payments total $600 or more for 2012.

Also, if you have at least $600 in reportable payments received from multiple FSA offices, only one 1099-G will be issued.

All of the 1099s were mailed from Kansas City last week. If you did not receive one, it was because your 2012 payments totaled less than $600.

If you know your payments exceeded $600 but you still did not receive a 1099, contact your local FSA office.