[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: 26CFR1.4-2]

[Page 25]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.4-2  Elections.

    (a) Making of election. The election to pay the optional tax imposed 
under section 3 shall be made by (1) filing a return on Form 1040A, or 
(2) filing a return on Form 1040 and electing in such return, in 
accordance with the provisions of section 144 and the regulations 
thereunder, to take the standard deduction provided by section 141.
    (b) Election under section 3 and election of standard deduction. 
Section 144 (a) and the regulations thereunder provide rules for 
treating an election to pay the tax under section 3 as an election to 
take the standard deduction, and for treating an election to take the 
standard deduction as an election to pay the tax under section 3. For 
example, if the taxpayer's return shows $5,000 or more of adjusted gross 
income and he elects to take the standard deduction, he will be deemed 
to have elected to pay the tax under section 3 if it is subsequently 
determined that his correct adjusted gross income is less than $5,000.
    (c) [Reserved]
    (d) Change of election. For rules relating to a change of election 
to pay, or not to pay, the optional tax imposed under section 3, see 
section 144 (b) and the regulations thereunder.

[T.D. 6500, 25 FR 11402, Nov. 26, 1960, as amended by T.D. 6581, 26 FR 
11677, Dec. 6, 1961; T.D. 7269, 38 FR 9295, April 13, 1973]