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United States · Bill · HR

H.R. 5314 (100th)

Tax Fairness for Farmers Act of 1988

referredUnited States· United States Congress· EN

Introduced

15 September 1988

Last action

—

Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

28 August 2025

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Summary

Tax Fairness for Farmers Act of 1988 - Repeals specified provisions of the Tax Reform Act of 1986 that eliminated income averaging. Provides that the Internal Revenue Code (IRC) be applied and administered as if such provisions had not been enacted. Amends the IRC to restore income averaging for a person: (1) actively engaged in the trade or business of farming, including aquaculture; and (2) whose average annual gross income for the three preceding taxable years is at least 50 percent attributable to farming.

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1 official file

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