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AFAIK the IRS has always been accepting of truncating / rounding values to full dollars and discarding cents. It's certainly been that way for the decades that
by jdmichal 4y ago
AFAIK the IRS has always been accepting of truncating / rounding values to full dollars and discarding cents. It's certainly been that way for the decades that I've been doing taxes.
- jay_kyburz 4y agoIn Australia the tax office doesn't event let you enter cents in online fields.
- vba616 4y agoMy point was that (at least some) standard US tax software rounds to dollars on intermediate results, apparently permitted and required by the IRS. ...while financial institutions send reports to clients and the IRS that have the totals rounded only at the end, meaning the things that are supposed to match don't and can't. Even though they are both in dollars, they are not consistent even to the nearest dollar.