is now 
Thousands of Midwestern farmers affected by the MF Global bankruptcy last October are now also facing tax questions.
Because of ongoing litigation, most of the farmers did not receive their Form 1099 from the bankrupt company in time to file their 2011 tax calendar year return. The deadline was March 1st.
In a new update, the IRS says it will allow the affected farmers to apply for a waiver of the estimated tax penalty and has issued instructions on how to do so by using Form 2210-F.
MF Global’s bankruptcy was the 8th largest in U.S. history affecting tens of thousands of equities and commodities clients.
Defamed leaders are under investigation to explain a shortfall of more than one billion dollars from client accounts that may have been used illegally to cover a faulty investment in European Sovereign Bonds.
MF Global traces its roots back to sugar trading in the 1700s. It diversified from cash commodities to commodities futures in the 1970s. Several incidents in the management of funds have been reported since that time including a scandal involving wheat futures trading.
