26 USC 7504: Fractional parts of a dollar
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26 USC 7504: Fractional parts of a dollar Text contains those laws in effect on November 22, 2024
From Title 26-INTERNAL REVENUE CODESubtitle F-Procedure and AdministrationCHAPTER 77-MISCELLANEOUS PROVISIONS
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§7504. Fractional parts of a dollar

The Secretary may by regulations provide that in the allowance of any amount as a credit or refund, or in the collection of any amount as a deficiency or underpayment, of any tax imposed by this title, a fractional part of a dollar shall be disregarded, unless it amounts to 50 cents or more, in which case it shall be increased to 1 dollar.

(Aug. 16, 1954, ch. 736, 68A Stat. 896 ; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834 .)


Editorial Notes

Amendments

1976-Pub. L. 94–455 struck out "or his delegate" after "Secretary".