Agricultural News
USDA Reminds Producers of Adjusted Gross Income Compliance Requirements
Thu, 25 Aug 2011 09:01:24 CDT
Oklahoma Farm Service Agency (FSA) State Executive Director Francie Tolle, reminds producers of the importance of Adjusted Gross Income (AGI) compliance when participating in USDA programs. Participating individuals and legal entities that do not file a form authorizing the "Consent to Disclosure of Tax Information," will not be eligible to receive or maintain program benefits.
"The Internal Revenue Service (IRS) provided USDA with a report identifying which producers did not file the appropriate form authorizing the consent to disclose tax information for the 2009 and 2010 calendar years," said Tolle. "Program participants that did not complete the appropriate paperwork will receive written notification from USDA in September 2011."
Individuals and legal entities will have 30 calendar days from the date of the letter to file a valid Consent to Disclosure of Tax Information for AGI verification purposes. Failure to file the disclosure will result in a determination of program ineligibility and result in a full refund of 2009 and/or 2010 FSA and Natural Resource Conservation Service (NRCS) payments subject to AGI limitations.
Producers who are in receipt of this September notification will be provided a copy of the form that shall be completed and immediately forwarded as directed in the notification.
For more information on AGI eligibility requirements or the AGI verification process, contact your local FSA office or visit them online- which you can visit by clicking here.
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