The IRS notice [PDF 172 KB] explains that previously, farmers’ cooperatives filed Form 990-C, and other cooperatives filed Form 1120. Form 1120-C replaced this system, which is now filed by all cooperatives.
Beginning with tax year 2011, Schedule A has been deleted, and replaced with a stand-alone Form 1125-A; and Schedule E has been deleted, and replaced with a stand-alone Form 1125-E. Also, certain lines (25a, 25b, 25c, 26a, 26b, 26c, and 26d) have been reformatted into new lines, based on comments received from a farmer cooperative association.
Comments are due on or before July 15, 2013.
For more information, contact KPMG’s National Director of Cooperative Tax Services:
David Antoni, in Philadelphia
Or Associate National Director of KPMG’s Cooperative Tax Services
Brett Huston, in Sacramento