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Internal Revenue Code, § 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; Oct. 4, 1976, Pub. L. 94-455, title XIX, 1906(b)(13)(A), 90 Stat. 1834.)
Background Notes
1976--Pub. L. 94-455 struck out “or his delegate” after “Secretary”.
Cross References
Computations on returns or other documents, see section 6102 of this title.
Fractional parts of a cent, see section 6313 of this title.
Section as inapplicable to gasoline used on farms, see section 6420 of this title.
Section Referred to in Other Sections
This section is referred to in section 6420 of this title.