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US Congress advances penny phaseout bill: What it means for you, the rounding rules, and how cash transactions could change
Congress is moving to end the production of one-cent coins for general circulation. The proposed Common Cents Act allows retailers to round cash transactions. Cash totals will be rounded to the nearest five cents when exact change is unavailable. This legislation permits retailers to round in favor of the customer. Electronic and card payments will continue to be charged at the exact amount.
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forbes.com
What The Common Cents Act Means For Retail
The House and Senate have passed similar versions of the Common Cents Act. What its rounding rules, safe harbor and state compliance gaps mean for retailers.
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economictimes.indiatimes.com
US Congress advances penny phaseout bill: What it means for you, the rounding rules, and how cash transactions could change
Congress is moving to end the production of one-cent coins for general circulation. The proposed Common Cents Act allows retailers to round cash transactions. Cash totals will…