United States · Bill · HR
H.R. 549 (101st)
To amend the Internal Revenue Code of 1986 to allow farmers to income average.
Introduced
19 January 1989
Last action
—
Status
Referred to the House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
7 February 2024
Summary
Repeals specified provisions of the Tax Reform Act of 1986 that eliminated income averaging. Amends the Internal Revenue Code to permit the use of income averaging by any 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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Documents
2 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN
Introduced in House
summary · EN · 19 January 1989
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/101st-congress/house-bill/549
- Open data entity: https://api.congress.gov/v3/bill/101/hr/549