[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.37-1]

[Page 107]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.37-1  General rules for the credit for the elderly.

    (a) In general. In the case of an individual, section 37 provides a 
credit against the tax imposed by chapter 1 of the Internal Revenue Code 
of 1954. This section and Secs. 1.37-2 and 1.37-3 provide guidance in 
the computation of the credit for the elderly provided under section 37 
for taxable years beginning after 1975. For rules relating to the 
computation of the retirement income credit provided under section 37 
for taxable years beginning before 1976, see 26 CFR 1.37-1 through 1.37-
5 (Rev. as of April 1, 1980). Note that section 403 of the Tax Reduction 
and Simplification Act of 1977 provides that a taxpayer may elect to 
compute the credit under section 37 for the taxpayer's first taxable 
year beginning in 1976 in accordance with the rules applicable to 
taxable years beginning before 1976.
    (b) Limitation on the amount of the credit. The credit allowed by 
section 37 for a taxable year shall not exceed the tax imposed by 
chapter 1 of the Code for the taxable year (reduced, in the case of a 
taxable year beginning before 1979, by the general tax credit allowed by 
section 42).
    (c) Married couples must file joint returns. If the taxpayer is 
married at the close of the taxable year, the credit provided by section 
37 shall be allowed only if the taxpayer and the taxpayer's spouse file 
a joint return for the taxable year. The preceding sentence shall not 
apply in the case of a husband and wife who are not members of the same 
household at any time during the taxable year. For the determination of 
marital status, see Secs. 143 and 1.143-1.
    (d) Nonresident aliens ineligible. No credit is allowed under 
section 37 to any individual for any taxable year during which that 
individual is at any time a nonresident alien unless the individual is 
treated, by reason of an election under section 6013 (g) or (h), as a 
resident of the United States for that taxable year.

[T.D. 7743, 45 FR 84049, Dec. 22, 1980]