26 U.S.C. § 7504 — Fractional parts of a dollar
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 64 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 896; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1976Amended · Pub. L. 94-455 · 90 Stat. 1834
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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