IRS Seeks Comments on Same-Old Co-Op Tax Form Extension
Published Date: 3/27/2025
Notice
Summary
The IRS wants to keep collecting info using Form 1099-PATR, which reports taxable payments from cooperatives. This affects over 1.6 million businesses who spend about 20 minutes filling it out. They’re asking for public comments by May 27, 2025, to help reduce paperwork and keep things running smoothly.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Cooperatives must keep filing Form 1099‑PATR
The IRS proposes to continue collecting information using Form 1099‑PATR, which reports patronage dividends paid by cooperatives under Internal Revenue Code section 6044. The rule affects 1,615,000 businesses and other for‑profit organizations, who are estimated to spend about 20 minutes each to complete the form for a total of 549,100 annual burden hours.
Form 1099‑PATR data used to verify recipient reporting
The IRS will use information reported on Form 1099‑PATR to verify reporting compliance by recipients of taxable distributions. The form's purpose is explicitly stated as helping the IRS check that recipients report income correctly.
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