Summary: H.R.3903 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.3903. Bill summaries are authored by CRS.

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Introduced in House (02/03/1988)

Family Farm Tax Accounting Relief Act of 1988 - Amends the Internal Revenue Code to exempt from the required application of uniform inventory cost capitalization rules any animal produced in a farming business, regardless of the animal's preproductive period.

Permits an exception from required use of the accrual method of accounting for family farm corporations having gross receipts of $5,000,000 or less for each prior taxable year after 1985.