26 U.S.C. § 6102: Computations on returns or…

Summary

The IRS can let amounts on tax forms be shown in whole dollars. If there are cents, the IRS may let you either drop the cents or drop them unless they are one-half dollar ($0.50) or more, in which case you add $1. You can also choose, under IRS rules, to show exact cents instead of rounding. Rounding only applies to the final number you put on the form, not to the calculations you use to get that number.

Title 26, §6102

Internal Revenue Code, Source: USLM XML via OLRC

(a)Amounts shown on internal revenue forms

The Secretary is authorized to provide with respect to any amount required to be shown on a form prescribed for any internal revenue return, statement, or other document, that if such amount of such item is other than a whole-dollar amount, either—

(1)the fractional part of a dollar shall be disregarded; or

(2)the fractional part of a dollar shall be disregarded unless it amounts to one-half dollar or more, in which case the amount (determined without regard to the fractional part of a dollar) shall be increased by $1.

(b)Election not to use whole dollar amounts

Any person making a return, statement, or other document shall be allowed, under regulations prescribed by the Secretary, to make such return, statement, or other document without regard to subsection (a).

(c)Inapplicability to computation of amount

The provisions of subsections (a) and (b) shall not be applicable to items which must be taken into account in making the computations necessary to determine the amount required to be shown on a form, but shall be applicable only to such final amount.

Editorial Notes

Amendments

1976—Subsecs. (a), (b). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.

§6102 Computations on Returns or Other Documents

Summary

Title 26, §6102

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata