Reply #7: Your CPA was full of it. From the FEC: [View All]

[politicat]

http://www.fec.gov/info/checkoff.htm

What Happens to My Three Dollars?

When you check "yes," three of your tax dollars are placed in the Presidential Election Campaign Fund. During each of the last five years, approximately 33 million taxpayers have checked the "yes" box. Every four years, the federal government distributes dollars from the Fund (sometimes called public funds or federal funds) to qualified Presidential candidates and national party committees for use in the Presidential elections. Whatever money is left over at the end of the Presidential election remains in the fund and is used in the next election, four years later.

Who Receives the Checkoff Dollars?

Presidential Nominees in the General Election. The Republican and Democratic nominees in the general election receive a fixed amount of checkoff dollars. Nominees from other political parties may qualify for a smaller, proportionate amount of checkoff funds if they receive over five percent of the vote.


Of course, candidates can (and do) refuse to take the money because then they are stuck with a lot of limits.