A bill to amend the Internal Revenue Code of 1954 to allow the payment of income tax on certain income support or deficiency payments to wheat and feed grain producers to be made in the year when the income normally received from the crops have been reported.

Permits cash basis taxpayers to report as income, support or deficiency payments on wheat and feed grains received pursuant to the Food and Agriculture Act of 1977 in the taxable year in which the income normally received from the crops would have been reported.