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I'm pretty sure the IRS cares though. GAAP don't allow you to just adjust numbers.
by nirvdrum 15y ago
I'm pretty sure the IRS cares though. GAAP don't allow you to just adjust numbers.
- colanderman 15y agoI'm pretty sure they don't, or else they'd be hounding you for the fractional pennies that you owe them (3/20 of every penny earned, remember!).
- derobert 15y agoThe IRS generally allows rounding to the nearest dollar on tax forms (at least individual and small business; not sure if large corporate are allowed to round even more). In fact, all the common tax software does so automatically; the only way to file a return to the cent is to do so by hand.
- wisty 15y agoI doubt they care, as long as you pay 10% (or whatever it is) of total taxable revenue. I think that's how it works in Australia, where we do round. The tax man only cares about aggregates, unless they are in audit mode.