[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR70.63]

[Page 989]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--BUREAU OF ALCOHOL, TOBACCO AND FIREARMS, DEPARTMENT OF THE 
                                TREASURY
 
PART 70--PROCEDURE AND ADMINISTRATION--Table of Contents
 
     Subpart D--Collection of Excise and Special (Occupational) Tax
 
Sec. 70.63  Computations on returns or other documents.

    (a) Amounts shown on forms. To the extent permitted by any ATF form 
or instructions prescribed for use with respect to any ATF return, 
declaration, statement, or other document, or supporting schedules, any 
amount required to be reported in such form may be entered at the 
nearest whole dollar amount. The extent to which, and the conditions 
under which, such whole dollar amounts may be entered on any form will 
be set forth in the instructions issued with respect to such form. For 
the purpose of the computation to the nearest dollar, a fractional part 
of a dollar shall be disregarded unless it amounts to one-half dollar or 
more, in which case the amount (determined without regard to the 
fractional part of a dollar) shall be increased by $1. The following 
illustrates the application of this paragraph:

------------------------------------------------------------------------
                                                                To be
                        Exact amount                         reported as
------------------------------------------------------------------------
$18.49.....................................................          $18
$18.50.....................................................           19
$18.51.....................................................           19
------------------------------------------------------------------------

    (b) Election not to use whole dollar amounts--(1) Method of 
election. Where any ATF form, or the instructions issued with respect to 
such form, provide that whole dollar amounts shall be reported, any 
person making a return, declaration, statement, or other document on 
such form may elect not to use whole dollar amounts by reporting thereon 
all amounts in full, including cents.
    (2) Time of election. The election not to use whole dollar amounts 
must be made at the time of filing the return, declaration, statement, 
or other document. Such election may not be revoked after the time 
prescribed for filing such return, declaration, statement, or other 
document, including extensions of time granted for such filing. Such 
election may be made on any return, declaration, statement, or other 
document which is filed after the time prescribed for filing (including 
extensions of time), and such an election is irrevocable.
    (3) Effect of election. The taxpayer's election shall be binding 
only on the return, declaration, statement, or other document filed for 
a taxable year or period, and a new election may be made on the return, 
declaration, statement, or other document filed for a subsequent taxable 
year or period.
    (4) Fractional part of a cent. For treatment of the fractional part 
of a cent in the payment of taxes, see 26 U.S.C. 6313 and Sec. 70.62 of 
this part.
    (c) Inapplicability to computation of amount. The provisions of 
paragraph (a) of this section apply only to amounts required to be 
reported on a return, declaration, statement, or other document. They do 
not apply to items which must be taken into account in making the 
computations necessary to determine such amounts. For example, each item 
of liability must be taken into account at its exact amount, including 
cents, in computing the amount of total liability required to be 
reported on a tax return or supporting schedule. It is the amount of 
total liability, so computed, which is to be reported at the nearest 
whole dollar on the return or supporting schedule.

(26 U.S.C. 6102)

[T.D. ATF-301, 55 FR 47611, Nov. 14, 1990]