3 ms·
> You still need to include the cents in a tax bill that runs into the millions of dollars Not in all cases. The IRS does not use cents when you file your tax
by rootusrootus 11mo ago
> You still need to include the cents in a tax bill that runs into the millions of dollars
Not in all cases. The IRS does not use cents when you file your tax return, they say round to the nearest dollar.
- dpark 11mo agoIt used to be that they gave you the choice. You could round or you could use pennies but you had to be consistent throughout the return, because even the IRS doesn’t care if you manage to scrape out 49 cents. Has that changed and it has to be dollars now?
- ghaff 11mo agoI think my accountant still gives me a choice of what to do and certainly I still get forms with cents on them.
- rootusrootus 11mo agoIt is still a choice, though I cannot remember the last time we used cents on ours or any other returns (my wife works for an accounting firm so they handle a fair number of returns). Just has to be consistent, either you round or you do not.