DALLAS — The Internal Revenue Service has announced the availability of the new Farmer’s Tax Guide for use in preparing 2008 tax returns. The Farmer’s Tax Guide, IRS Publication 225, contains information on the farming business either as an owner or tenant.

“Farmers should take just a few minutes at IRS.gov to download this publication and keep it handy. It’s full of valuable information to find out how federal tax laws apply to farming and how to figure your taxes and complete your tax return," said Clay Sanford, an IRS spokesman in Dallas. “It includes updates every year about new laws or regulations that may apply to your business.”

Sanford noted that there were more than 1.6 million farm tax returns (Form 1040, Schedule F) filed by Americans last year.

The guide details the benefits of keeping records, what kinds of records you must keep, and how long you must keep them for federal tax purposes. Other topics include tracking farm income, expenses, employment taxes and sample tax returns.

“I really encourage farmers and anyone else with their own business to look into IRS e-file,” Sanford added. “Electronic filing is the fastest and most accurate way to complete your federal income tax return. You can use your personal computer, visit an authorized IRS e-file provider, or visit a Volunteer Income Tax Assistance (VITA) site.”

The Farmer’s Tax Guide, as well as other IRS forms and publications, can be accessed at IRS.gov or ordered by calling toll-free at 1-800-TAX-FORM. Telephone assistance is available by calling the IRS business and specialty line at 1-800-TAX-4933.

Here's a direct link to the Farmer's Tax Guide:  http://www.irs.gov/pub/irs-pdf/p225.pdf