SECTION 1. PURPOSE

This revenue procedure provides procedures to allow a taxpayer to automatically change its method of accounting under § 446 of the Internal Revenue Code for certain deferred payment sales (“DPS”) contracts (relating to property used or produced in the trade or business of farming) to the installment method for alternative minimum tax (AMT) purposes. This change will allow a taxpayer to comply with § 403 of the Taxpayer Relief Act of 1997 (TRA 1997), Pub. L. No. 105–34, 111 Stat. 788 (Aug. 5, 1997), which repealed § 56(a)(6) of the Code, relating to the AMT adjustment for installment sales, effective generally for dispo

sitions in taxable years beginning after December 31, 1986.