The Code of Federal Regulations of the United States of AmericaU.S. Government Printing Office, 1994 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
agreement amended by T.D. amount annuity apply assets basis beneficiary Blackacre bonds calendar charitable Code computed considered contract corporation dece decedent's death decedent's gross estate decedents dying December 31 deposit described in section determined distribution donee spouse donor earnings and profits election under section erty Example exchange executor exercise fair market value Federal estate tax filed fund gift tax graph gross income included income interest installment inter interest in property Internal Revenue Internal Revenue Code Internal Revenue Service issue January June 24 lease limitation marital deduction ment mortgage obligation October 21 option paid payable percent period person poration portion power of appointment prior prop purposes pursuant qualified disclaimer quired real property received regulations residence respect rules share shareholder spect subparagraph surviving spouse tate tax return taxpayer terest term tion transfer treated trust trust instrument United vessel
Popular passages
Page 316 - ... 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...
Page 275 - 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 sell and both having reasonable knowledge of relevant facts.
Page 189 - The obligations of a State, a Territory, or a possession of the United States, or any political subdivision of any of the foregoing, or of the District of Columbia...
Page 490 - However, a sale, exchange, or other transfer of property made in the ordinary course of business (a transaction which is bona fide, at arm's length, and free from any donative intent), will be considered as made for an adequate and full consideration in money or money's worth.
Page 445 - ... shall be a lien in favor of the United States upon all property and rights to property, whether real or personal, belonging to such person.
Page 251 - 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 470 - Future interests" is a legal term, and includes reversions, remainders, and other interests or estates, whether vested or contingent, and whether or not supported by a particular interest or estate, which are limited to commence in use, possession or enjoyment at some future date or time.
Page 381 - The income payable to the surviving spouse must be payable annually or at more frequent intervals. (3) The surviving spouse must have the power to appoint the entire interest or the specific portion to either herself or her estate. (4) The power in the surviving spouse must be exercisable by her alone and (whether exercisable by will or during life) must be exercisable in all events. (5) The entire interest or the specific portion must not be subject to a power in any other person to appoint any...
Page 406 - An exemption of $50,000 ; (b) In the case of a nonresident, by deducting from the value of that part of his gross estate which at the time of his death is situated in the United States...
Page 18 - Obligation of deposits. (a) Time for obligation. Within three years from the date of any deposit in a construction reserve fund, unless extension is granted as provided in § 2.122, such deposit must be obligated under a contract for the construction or acquisition of a new vessel or vessels (or in the discretion of the Administration for a share therein) , with not less than 12...