Interest calculation procedures clarified, including rounding rules for fractional periods and de minimis treatment of minor interest liabilities. The amendment adds individuals liable under the family-adjustment assessment provision to the subsection's scope and introduces a procedural rule ... Summary
Interest calculation procedures clarified, including rounding rules for fractional periods and de minimis treatment of minor interest liabilities.
The amendment adds individuals liable under the family-adjustment assessment provision to the subsection's scope and introduces a procedural rule authorising methods for calculating interest payable by assessees or by the Government, including rounding rules for fractional-month periods and rules permitting the disregard of petty interest amounts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.