Pub. L. 84-460, tit. I, sec. 8

Sec. 8. Title VI of said Act is amended by adding immediately after the end of section 3 of such title the following new section: “Sec. 4. (a) Optional Method of Compilation.—In lieu of the method of computation prescribed by section 3 of this title, a resident reporting on a cash basis for any full calendar year who does not claim credit for taxes paid by him to any State or Territory of the United States or political subdivision thereof under the provisions of section 5 of this title on the whole or any part of his income for such calendar year and, if his gross income for such calendar year is $10,000 or less, and is derived solely from salaries, wages, dividends, and interest, may elect to pay the tax in accordance with a table to be included in regulations. 70 Stat. 71 “(b) In applying such table, to determine whether the taxpayer is entitled to the personal exemption of $1,000 or $2,000, his status on the last day of his taxable year, as defined in this article, shall control. “(c) An individual not living with husband or wife on the last day of the taxable year for the purposes of this article, shall be considered as a single person. “(d) The election given by this section as to the computation of tax due shall be considered to have been made if the taxpayer files the return prescribed for such computation and such election shall be final and irrevocable. “(e) If the taxpayer for any taxable year has filed a return computing his tax without regard to this section, he may not thereafter elect for such year to compute his tax under this section. “(f) This section shall not apply to any fiduciary or to any married resident living with husband or wife at any time during the taxable year whose spouse files a return and computes the tax without regard to this section or section 3 (a) (13) of title III of article I, as amended. “(g) If a husband and wife living together file separate returns, each shall be treated as a single person for the purposes of this section.”