A form that a farmer or a fisherman files with the
IRS along with
Form 1040 to average his/her
income over the previous three years. This can reduce one's
tax liability over those three years. It is especially useful in farming and fishing, two occupations for which incomes can be quite
volatile. A farmer or fisherman may file Schedule J even if he/she was not engaged in farming or fishing during the three years under consideration.