S. 1632 — A bill to amend the Internal Revenue Code of 1954 to allow certain partnerships and partners to continue to report income on the cash method.

Summary

Amends the Internal Revenue Code to allow certain partnerships engaged in farming to elect to compute their income from farming under both the accrual method of accounting and the method used in the year preceding the year the accrual method became a requirement.

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Related Legislation

H.R. 3900A bill to amend the Internal Revenue Code of 1954 to allow certain partnerships and partners to continue to report income on the cash method.
1981-06-11Referred to House Committee on Ways and Means.
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Legislative Actions

1981-09-17
Introduced in Senate
1981-09-17
Read second time and referred to Senate Committee on Finance.
1981-09-22
Committee on Finance requested executive comment from OMB; Treasury Department.

A bill to amend the Internal Revenue Code of 1954 to allow certain partnerships and partners to continue to report income on the cash method.

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