[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR301.6096-2]

[Page 36-37]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                         Information and Returns
 
Sec. 301.6096-2  Designation by individuals for taxable years ending on 
or after December 31, 1972 and beginning before January 1, 1973.

    (a) In general. (1) For taxable years ending on or after December 
31, 1972 and beginning before January 1, 1973, every individual (other 
than a non-resident alien) whose income tax liability, as defined in 
paragraph (b) of this section, is one dollar or more, may, at his 
option, designate that one dollar shall be paid over to the Presidential 
Election Campaign Fund, referred to in Sec. 301.6096-1 (a). Where in 
accordance with prior law, such a designation was made for the account 
of any candidate of any specified political party, or for a general 
account for all candidates for election to the offices of President and 
Vice President of the United States, such a designation shall be treated 
solely as a designation to such fund.

    (2) In the case of a joint return of a husband and wife, each spouse 
may designate that one dollar be paid to the fund as provided in 
paragraph (a)(1) of this section only if the joint income tax liability 
of the husband and wife is two dollars or more.

    (b) Income tax liability. For purposes of paragraph (a) of this 
section, the income tax liability of an individual for any taxable year 
is the amount of the tax imposed by chapter 1 on such individual for 
such taxable year (as shown on his return), reduced by the sum of the 
credits (as shown on his return).

    (c) Manner and time of designation. (1) A designation under 
paragraph (a) of this section may be made with respect to any such 
taxable year at the time of the filing of the return of the tax imposed 
by chapter 1 for such taxable year. If such designation is made at the 
time of filing the original return for such year, it shall be made by 
the individual on the form furnished by the Internal Revenue Service for 
such purpose in accordance with the instructions applicable thereto.

    (2) With respect to any taxable year ending on or after December 31, 
1972 and beginning before January 1, 1973, for which no designation was 
made under paragraph (c)(1) of this section, a designation may be made 
on the form furnished by the Internal Revenue Service for such purpose, 
filed within 20 and one half months after the due date for the original 
return for such taxable year. In the case of a joint return where 
neither spouse made a designation or where only one spouse made a 
designation, a designation may be made, as provided in this 
subparagraph, by the spouse or spouses who had not previously made a 
designation.

    (3) A designation once made, whether by an original return or 
otherwise, may not be revoked.


[T.D. 7304, 39 FR 4476, Feb. 4, 1974]

[[Page 37]]

                        miscellaneous provisions