26 U.S.C. § 7504
Fractional parts of a dollar
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 7504, Fractional parts of a dollar, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/464512
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Full text
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.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Tax Reform Act of 1976House: no recorded tallySenate: no recorded tally