Senator Debbie Stabenow (D-MI), chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, and ranking member Sen. Pat Roberts (R-KS) Monday urged the Internal Revenue Service to provide former MF Global customers, who may need to file their taxes with incomplete information, with guidance as income tax filing deadlines are approaching.
“Former MF Global customers are still waiting for 1099 forms detailing gains and losses to their accounts in 2011,” the letter to IRS Commissioner Douglas H. Shulman states. “The court-appointed trustee applied for and received two extensions from your agency, but the former customers of MF Global must still pay their taxes on time. Many of these customers are farmers and ranchers who have significant planting responsibilities in the spring and we urge your agency to respect the difficult time constraints they are under.”
The firm filed for bankruptcy on October 31, 2011 after revealing that hundreds of millions of dollars in customer money had gone missing.