![]() Read our Frequently Asked Questions ( en español)to learn more. We are dedicated to serving the evolving ag value chain. Please consult a tax professional with all tax-related questions regarding the FSA IRA assistance you received in 2022. USDA cannot and does not provide tax advice but wants you to be aware of options that may help manage your tax liability. For example, if a borrower received Section 22006 assistance on three different FSA loans, they would receive one corrected Form 1099-G and three Form 1099-Cs.ĭepending upon your circumstances, the IRA payment reported on your new 1099-C may be excluded from your income based on individual analysis filed with your tax return. Please note: Borrowers who received Section 22006 assistance in 2022 will receive one new Form 1099-C for each loan the borrower received a Section 22006 payment on. established himself as a prominent figure in American ag lending. ![]() If you are a direct loan borrower who received financial assistance in 2022 from FSA under Section 22006, you will receive a new IRS 1099-C form and a revised 1099-G form, along with a letter directing you to available resources. About See all American AgCredit is your trusted business partner for the future. AgCredit has been serving northern Ohio for decades, providing competitive loan programs and services to meet all your rural funding needs. Dianne Pierce, Dakota Western Bank, Scranton. Section 22006 of the Inflation Reduction Act (IRA) provided $3.1 billion for USDA to provide relief to distressed borrowers with certain FSA loans and to expedite assistance for those whose agricultural operations are at financial risk. Tax Resources for Recipients of Inflation Reduction Act Assistance
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