Wisconsin Ag Connection - FSA Implements New Adjusted Gross Income Compliance Rule

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FSA Implements New Adjusted Gross Income Compliance Rule
Wisconsin Ag Connection - 02/09/2010

The Wisconsin Farm Service Agency is reminding producers who receive payments and benefits from FSA about the 2009 and 2010 AGI compliance requirements. USDA has a Memorandum of Understanding with the Internal Revenue Service to establish an electronic information exchange process for verifying compliance with the adjusted gross income provisions for farm programs. Producers who signed a CCC-926 certifying AGI compliance will need to complete CCC-927 and/or CCC-928 and submit it to the IRS by June 15.

The average AGI verification and data comparison processes begin with participants providing consent to IRS for the use and disclosure of tax information to FSA for AGI compliance purposes. By completing the CCC-927 and CCC-928 forms, it authorizes CCC/FSA to share program participant information with IRS. This also allows IRS to use and disclose certain tax information to CCC/FSA for AGI compliance verification purposes.

To safeguard privacy of all program participants and confidentiality of the information, program participants are required to complete CCC-927 and CCC-928; mail the completed forms directly to IRS at the address specified on the forms within 60 calendar days of the signature date.

Participants that choose not to submit a completed CCC-927, or CCC-928, as applicable, will be determined noncompliant with AGI limitations for the 2009 and 2010 crop, and program.

Copies of the CCC-927, CCC-928 forms are available at their local county FSA office.