Forms and Publications to Assist Farmers
The following IRS forms and publications relate specifically to farmers:
Form 943, Employer’s Annual Tax Return for Agricultural Employees (PDF)
This form is used to report income tax withheld and employer and employee social security and Medicare taxes on farmworkers. It’s also used to report taxes on wages of household employees in a private home on a farm operated for profit. Instructions (PDF)
Form 1120-C, U.S. Income Tax Return for Cooperative Associations (PDF)
This is the income tax return required for Cooperative Associations to report income, gains, losses, deductions, credits, and to figure the income tax liability of subchapter T cooperatives. Instructions (PDF).
Schedule F (Form 1040), Profit or Loss From Farming (PDF)
This form is for the computation of profit (or loss) from the operation of a farm. Instructions. (PDF)
Schedule J (Form 1040), Income Averaging for Farmers and Fishermen (PDF)
This form is used to elect to figure farmers tax over the previous three years if their income is high for the current year and was low in one or more of the previous three years. Instructions (PDF).
Form 2210F, Underpayment of Estimated Tax By Farmers and Fishermen (PDF)
This form is filed as an explanation to avoid penalty for underpayment of estimated tax made by qualified farmers and fishermen.
Form 4835, Farm Rental Income and Expenses (PDF)
This form is used by a land owner (or sublessor) to report gross farm rental income based on crops or livestock shares where he/she does not materially participate in the operation or management of the farm.
Form T (Timber), Forest Activities Schedule (PDF)
This form must be attached to your income tax return if you operate, buy, lease, or sell standing timber or forest land.
Publication 51, Circular A, Agricultural Employer's Tax Guide
Publication 51 is for employers of agricultural workers (farmworkers). It contains information you may need to comply with the laws for agricultural labor relating to social security and Medicare taxes, Federal unemployment (FUTA) tax, and withheld income.
Publication 225, Farmer's Tax Guide
Publication 225 explains how the federal tax laws apply to farming. It contains chapters on the importance of good records, filing requirements and return forms, accounting periods and methods, farm income and expenses, and much more. Publication 225 also incorporates a section to help you understand self-employment tax. It explains:
What is self-employment tax,
Why you pay it,
How you pay it,
Who must pay it, and
How to report it on your tax return.
Publication 334, Tax Guide For Small Businesses
The purpose of this publication is to provide general information about the federal tax laws that apply to small business owners who are sole proprietors and to statutory employees.
Publication 510, Excise Taxes (Including Fuel Tax Credits and Refunds)
This publication discusses the purpose for which gas and special motor fuels must be used to qualify for the credit or refund of Federal excise tax.
Publication 946, How To Depreciate Property
This publication explains how you can recover the cost of business or income-producing property through deduction for depreciation.