Internal Revenue Code:Sec. 2206. Liability of life insurance beneficiaries

From TaxAlmanac

Location in Internal Revenue Code

     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle B - Estate and Gift Taxes
       CHAPTER 11 - ESTATE TAX
        Subchapter C - Miscellaneous
      

Statute

    Sec. 2206. Liability of life insurance beneficiaries
 
      Unless the decedent directs otherwise in his will, if any part of
    the gross estate on which tax has been paid consists of proceeds of
    policies of insurance on the life of the decedent receivable by a
    beneficiary other than the executor, the executor shall be entitled
    to recover from such beneficiary such portion of the total tax paid
    as the proceeds of such policies bear to the taxable estate.  If
    there is more than one such beneficiary, the executor shall be
    entitled to recover from such beneficiaries in the same ratio.  In
    the case of such proceeds receivable by the surviving spouse of the
    decedent for which a deduction is allowed under section 2056
    (relating to marital deduction), this section shall not apply to
    such proceeds except as to the amount thereof in excess of the
    aggregate amount of the marital deductions allowed under such
    section.
 

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 402; Pub. L. 94-455, title XX,
    Sec. 2001(c)(1)(H), Oct. 4, 1976, 90 Stat. 1852.)
 

Miscellaneous

                                 AMENDMENTS
      1976 - Pub. L. 94-455 substituted ''the taxable estate'' for
    ''the sum of the taxable estate and the amount of the exemption
    allowed in computing the taxable estate, determined under section
    2051'' after ''policies bear to''.
                      EFFECTIVE DATE OF 1976 AMENDMENT
      Amendment by Pub. L. 94-455 applicable to estates of decedents
    dying after Dec. 31, 1976, see section 2001(d)(1) of Pub. L.
    94-455, set out as a note under section 2001 of this title.