Internal Revenue Code:Sec. 2015. Credit for death taxes on remainders

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle B - Estate and Gift Taxes
       CHAPTER 11 - ESTATE TAX
        Subchapter A - Estates of Citizens or Residents
         PART II - CREDITS AGAINST TAX
       

Statute

    Sec. 2015. Credit for death taxes on remainders
 
      Where an election is made under section 6163(a) to postpone
    payment of the tax imposed by section 2001, or 2101, such part of
    any estate, inheritance, legacy, or succession taxes allowable as a
    credit under section 2011 or 2014, as is attributable to a
    reversionary or remainder interest may be allowed as a credit
    against the tax attributable to such interest, subject to the
    limitations on the amount of the credit contained in such sections,
    if such part is paid, and credit therefor claimed, at any time
    before the expiration of the time for payment of the tax imposed by
    section 2001 or 2101 as postponed and extended under section 6163.
 

Sources

    (Aug. 16, 1954, ch. 736, 68A Stat. 379; Pub. L. 85-866, title I,
    Sec. 66(a)(1), Sept. 2, 1958, 72 Stat. 1657; Pub. L. 107-16, title
    V, Sec. 532(c)(4), June 7, 2001, 115 Stat. 74.)
 

Amendment of Section

                            AMENDMENT OF SECTION
        Pub. L. 107-16, title V, Sec. 532(c)(4), (d), title IX, Sec.
      901, June 7, 2001, 115 Stat. 74, 75, 150, provided that,
      applicable to estates of decedents dying, and generation-skipping
      transfers, after Dec. 31, 2004, this section is temporarily
      amended by striking out ''2011 or'' before ''2014''. See
      Effective and Termination Dates of 2001 Amendment note below.
 

Miscellaneous

                                 AMENDMENTS
      1958 - Pub. L. 85-866 substituted ''the time for payment of the
    tax imposed by section 2001 or 2101 as postponed and extended under
    section 6163'' for ''60 days after the termination of the precedent
    interest or interests in the property''.
             EFFECTIVE AND TERMINATION DATES OF 2001 AMENDMENT
      Amendment by Pub. L. 107-16 applicable to estates of decedents
    dying, and generation-skipping transfers, after Dec. 31, 2004, see
    section 532(d) of Pub. L. 107-16, set out as a note under section
    2011 of this title.
      Amendment by Pub. L. 107-16 inapplicable to estates of decedents
    dying, gifts made, or generation skipping transfers, after Dec. 31,
    2010, and the Internal Revenue Code of 1986 to be applied and
    administered to such estates, gifts, and transfers as if such
    amendment had never been enacted, see section 901 of Pub. L.
    107-16, set out as a note under section 1 of this title.
                      EFFECTIVE DATE OF 1958 AMENDMENT
      Section 66(a)(3) of Pub. L. 85-866 provided that: ''The
    amendments made by paragraphs (1) and (2) (amending this section
    and section 927 of I.R.C. 1939) shall apply in the case of any
    reversionary or remainder interest in property only if the
    precedent interest or interests in the property did not terminate
    before the beginning of the 60-day period which ends on the date of
    the enactment of this Act (Sept. 2, 1958).''
 

References

                   SECTION REFERRED TO IN OTHER SECTIONS
      This section is referred to in section 6511 of this title.
 

Personal tools