Deferring Crop Insurance and Disaster Payments: How Not to Do It

Abstract

<p>Since it was enacted in 1969,<strong>1 </strong>the provision authorizing a one-year deferral to the year after the year of “destruction or damage to crops”<strong>2 </strong>has drawn very little attention. Other than Treasury Regulations,<strong>3 </strong>a 1974 revenue ruling<strong>4 </strong>a notice issued in 1989<strong>5 </strong>and assorted other (mostly minor) rulings,<strong>6 </strong>the subsection, which has been important to many farmers, has provoked little scrutiny by the Internal Revenue Service and has not been litigated.</p>