26 U.S.C. § 7504

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 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.

26 U.S.C. § 7504

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

AMENDMENTS1976-Pub. L. 94-455 struck out "or his delegate" after "Secretary".

Secretary

The term "Secretary" means the Secretary of the Treasury or his delegate.