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.

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Terms Used In 26 USC 7504

  • Secretary: means the Secretary of the Treasury or his delegate. See 26 USC 7701