As is well known, the Internal Revenue Service is not a fan of cash accounting (even though the Department of the Treasury approved cash accounting for farmers and ranchers in 1918)1 nor is Congress totally enamored with the idea at the present time.2 Nonetheless, the regulations and rulings have, since 1918, provided a procedure for shifting from accrual to cash accounting for eligible taxpayers. The current authority for cash accounting is in I.R.C. § 446(c)(1) which states, as the first option for permissible methods of accounting “. . . the cash receipts and disbursements method.”