Complex sentence: The Revenue Act of 1978 included a provision that became Internal Revenue Code, under this act the employees are not taxed on the portion of income they agree to receive as deferred compensation rather than direct cash payment.
Split into simpler sentences: The Revenue Act of 1978 included a provision that became Internal Revenue Code. Under this act the employees are not taxed on the portion of income they agree to receive as deferred compensation rather than direct cash payment.