We would like to take a moment to thank all of you who came out to see us in our hospitality room at last year’s CHS Meeting in Minneapolis. We had over 100 attendees, and gave away American Express® gift cards, golf balls and the grand prize: a Kindle Fire E-reader. We hope you will join us for 2012’s meeting in our hospitality room, and thank you again for helping us make this year’s meeting a great success!

If you haven’t yet filed forms 1096 or W-3 with the IRS or SSA, it will be easier to fix a mistake on them without the need to file amended returns. However, if you have already filed forms 1096 or W-3 with the government, and there are errors on those forms, then you will also have to file amended reports which can be complicated and time consuming. So, file those 1096s and W-3s closer to their due date to avoid potential amended return filings.

We want to be certain that you are taking full advantage of the many tax credits available to cooperatives. We are also taking steps to improve our communication with you regarding these credits. Following are some of the credits that our clients may qualify for:

• Most clients were more profitable in 2011 compared to 2010, and many reported record earnings. Higher commodity prices along with increased or steady grain and agronomy volumes meant sales dollars were also considerably higher in 2011.

As you all are aware of by now, with OSHA’s increased oversight on grain bins, we have not been entering the bins as we have in the past. Even if we wanted to enter the bins, you have done a good job of recognizing the necessity of complying with the OSHA standards. Neither of us want an accident or a fine for violating the rules. They are not cheap.

With the recent “relaxation” of the new tougher 1099 reporting requirements, there seems to be a misconception that 1099’s are no longer required. This misconception could prove costly to you and your organization.