Keepseagle awardees must file a tax return
Submitted by Intertribal Agriculture Council
Billings, MT – The Intertribal Agriculture Council would like to share some important year-end tax information for Keepseagle claimants. Receiving either the Track A or Track B settlement payment was the first step in finalizing your Keepseagle settlement.
All settlement recipients will need to file a federal income tax return and report this settlement as income regardless of their current income level, land status, current employment status and even if they have not filed a Federal income tax return before.
Each settlement recipient will be receiving a Form 1099 MISC and/or a Form 1099-C around mid-January. Recipients must file a tax return to comply with IRS regulations. Many recipients may qualify for a tax refund and will not be able to get it unless they file a return. A fact sheet can be downloaded at www.iactechhelp.com/?p=212
A series of workshops and an online webinar will be occurring across the nation to further assist awardees with tax filing and reporting issues.
Please visit the Intertribal Ag Council’s website: IndianAgLink.com for a list of trainings. You may also visit the regional Extension Risk Management Education Centers at ExtensionRME.org for workshops occurring in your area. For more tax topics and information go to RuralTax.org.