IRS Form 1099-PATR (Tax Year 2024)
Taxable Distributions Received From Cooperatives
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New Electronic Filing Mandate
IRS mandates electronic filing of 10 or more information returns. The new threshold is effective for information returns beginning tax year 2023. FIRE TCC holders who submitted their TCC
application prior to September 26, 2021, must complete and submit a new application and verify their identity through ID.me, an IRS provider of sign-in services.
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Original, Corrections, Prior Years
Not a problem. Our software and outsourcing services are capable of meeting your needs. Print and electronically file originals or corrections for current or prior tax years.
About IRS Form 1099-PATR
IRS Form 1099-PATR, Taxable Distributions Received from Cooperatives, is a tax form used to report distributions received by individuals or
businesses from cooperatives. This form specifically focuses on amounts received from cooperatives that may be subject to taxation.
Who Receives Form 1099-PATR: Individuals or entities that receive distributions from cooperatives during the tax year. This
may include farmers, agricultural producers, or members of consumer cooperatives.
Who Sends Form 1099-PATR: Cooperatives that make distributions to their members or patrons are responsible for issuing
Form 1099-PATR.
Purpose of Form 1099-PATR: To inform the IRS and recipients about the taxable distributions made by cooperatives during the
year. To ensure that recipients report these distributions as income on their tax returns, as they may be taxable.
Due Date: Furnish Copy B to the borrower by January 31. File electronically by March 31.
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