The Internal Revenue Service Farmer’s Tax Guide, is now available for use in preparing 2013 tax returns.
“This guide is for anyone in the business of farming,” said Michael Devine, IRS spokesman in St. Louis. “If you cultivate, operate or manage a farm as an owner or tenant, you should download this publication from IRS.gov.”
The guide includes annual updates about new laws or regulations. It details the benefits of keeping records, what kinds of records you must keep and how long you must keep them for federal tax purposes. Other topics include tracking farm income, expenses, employment taxes and sample tax returns.
Devine said more than 58,000 farm tax returns were filed in Kansas for tax year 2011.
The Farmer’s Tax Guide, IRS Publication 225, is available on the IRS website www.irs.gov or can be ordered by calling 800-TAX-FORM.