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MF Global Failure Creating Tax Nightmare for Farmers
http://www.cnbc.com/id/46468106With the tax man breathing down his neck, Ohio farmer Tony Rohrs is scrambling to figure out how much money he made last year in an account at MF Global.
Thousands of former clients of the failed brokerage, including farmers, cattle ranchers and investors, have not yet received tax forms that detail their profits and losses, preventing them from preparing accurate returns for the Internal Revenue Service ahead of a rapidly approaching deadline.
"I'm running out of time," said Rohrs, who faces a March 1 filing deadline like many farmers.
The collapse of MF Global, which had a large group of agricultural clients, has produced one financial frustration after another for former customers who still have not been fully reimbursed for hundreds of millions of dollars that were frozen in their accounts as a result of the firm's Oct. 31 bankruptcy.
more at link...
