A bill to amend the Internal Revenue Code of 1954 to provide that the imputed interest rate used for purposes of allocating income and deductions between related taxpayers shall be the same as the interest rate used in determining the amount of interest on certain deferred payments.

Amends the Internal Revenue Code to provide that the rate of imputed interest, for purposes of allocating income and deductions in the case of loans or advances among taxpayers, shall, with specified exceptions, be the same as the rate used in determining the interest on certain deferred payments.