to— (i) such dollar amount, multiplied by (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, by substituting calendar year 2017 for calendar year 1992 in subparagraph (B) thereof. If any amount as increased under the preceding sentence is not a multiple of $1,000, such amount shall be rounded to the nearest multiple of $1,000. . (3) Change in method of accounting Paragraph (7) of section 448(d) is amended— (A) by striking In the case of and all that follows up to subparagraph (A) and inserting: If a taxpayer changes its method of accounting because the taxpayer is prohibited from using the cash receipts and disbursement method of accounting by reason of subsection (a) or is no longer prohibited from using such method by reason of such subsection— , and (B) by inserting and at the end of subparagraph (A), by striking , and at the end of subparagraph (B) and inserting a period, and by striking subparagraph (C). (4) Conforming amendments (A) Paragraph (3) of section 448(b) is amended to read as follows: (3) Entities satisfying gross receipts test Paragraphs (1) and (2) of subsection (a) shall not apply to any corporation or partnership for any taxable year if such entity meets the gross receipts test of subsection (c) for the taxable year. . (B) Clause (iii) of section 172(b)(1)(E) is amended by inserting , applied by substituting $5,000,000 for the applicable dollar limit in paragraph (1) thereof, after section 448(c) . (b) Application of modifications to farming corporations (1) In general Paragraph (1) of section 447(d) is amended to read as follows: (1) In general A corporation meets the requirements of this subsection for any taxable year with respect to its gross receipts if the corporation meets the gross receipts test of section 448(c) for the taxable year. . (2) Family corporations Paragraph (2) of section 447(d) is amended— (A) by striking subparagraph (A) and inserting the following: (A) In general In the case of a family