The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1977 The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government. |
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Common terms and phrases
accrued benefit Administration amended by T.D. amount annuity apply assets bequest calendar quarter charitable citizen community property computed consent considered contract corporation dece decedent decedent's death decedent's gross estate December 31 dent deposit described in section determined donee spouse donor employee employee's erty Example executor exercise extent fair market value Federal estate tax filed foreign death taxes fund gift tax graph included income tax interest in property Internal Revenue Code June 24 lien limitation marital deduction ment nonresident normal retirement October 21 paid paragraph participant payable payment percent period person power of appointment purposes pursuant qualified real property regulations relating remainder interest respect rules sions spect Stat Statutory provisions subdivision subparagraph surviving spouse tax imposed tax return taxable estate taxable gifts taxpayer terest term termination thereof tion trade or business transfer treated trust trust instrument United vessel
Popular passages
Page 342 - ... organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual, no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation, and which does not participate in, or intervene in (including the publishing or...
Page 306 - Columbia, for exclusively public purposes, or to or for the use of any corporation organized and operated exclusively for religious, charitable, scientific, literary, or educational purposes, including the encouragement of art and the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private stockholder or individual...
Page 239 - ... the right, either alone or in conjunction with any person, to designate the persons who shall possess or enjoy the property or the income therefrom; except in case of a bona fide sale for an adequate and full consideration in money or money's worth.
Page 308 - Spouse. (a) Allowance of Marital Deduction. — For purposes of the tax imposed by section 2001, the value of the taxable estate shall, except as limited by subsections (b), (c), and (d), be determined by deducting from the value of the gross estate an amount equal to the value of any interest in property which passes or has passed from the decedent to his surviving spouse, but only to the extent that such interest is included in determining the value of the gross estate.
Page 342 - ... the amount of all bequests, legacies, devises, or transfers (including the interest which falls into any such bequest, legacy, devise, or transfer as a result of an irrevocable disclaimer of a bequest, legacy, devise, transfer, or power. if the disclaimer is made before the date prescribed for the filing of the estate tax return...
Page 214 - The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.
Page 184 - Every executor, administrator, or assignee, or other person, who pays, in whole or in part, any debt due by the person or estate for whom or for which he acts before he satisfies and pays the debts due to the United States from such person or estate, shall become answerable in his own person and estate to the extent of such payments for the debts so due to the United States, or for so much thereof as may remain due and unpaid.
Page 244 - ... -where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power...
Page 462 - ... (1) The United States, any State. Territory, or any political subdivision thereof, or the District of Columbia, for exclusively public purposes...
Page 248 - ... for his life or for any period not ascertainable without reference to his death or for any period which does not in fact end before his death...