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Administration allowed amended amount annuity application beneficiary bequest bonds calendar charitable citizen claimed Code completed computed consideration considered construction contract contract or subcontract corporation cost created death taxes decedent decedent's death deduction deficiency deposit described determined distribution district donee donor effect election employee entire erty example executor exercise expenses extent facts filed foreign fund gift gift tax gross estate held included income installments interest Internal Internal Revenue Code less liability limitation loss means ment notice otherwise paid paragraph party passed payable payment percent performing period person portion possession power of appointment prescribed proceeds prop purchased reason received regulations relating remainder resident respect rules shares Stat Statutory provisions surviving spouse tax imposed taxable taxpayer term termination thereof tion transfer treated trust United valuation vessel wife
Page 105 - ... 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 110 - To the extent of any interest therein of which the decedent has at any time made a transfer, by trust or otherwise, where the enjoyment thereof was subject at the date of his death to any change through the exercise of a power, either by the decedent alone or in conjunction with any person, to alter, amend, or revoke...
Page 228 - The value of the property is the price at which such 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 283 - Secretary of his delegate — (1) Under State or Territorial laws. In the office designated by the law of the State or Territory in which the property subject to the lien is situated, whenever the State or Territory has by law designated an office within the State or Territory for the filing of such notice; or (2) With clerk of district court.
Page 228 - Where property is transferred for less than an adequate and full consideration in money or money's worth, then the amount by which the value of the property exceeded the value of the consideration shall be deemed a gift, and shall be included in computing the amount of gifts made during the calendar year.
Page 90 - 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 110 - ... even though the exercise of the power is subject to a precedent giving of notice or even though the exercise of the power...
Page 150 - 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 151 - RULE. —Where, on the lapse of time, on the occurrence of an event or contingency, or on the failure of an event or contingency to occur, an interest passing to the surviving spouse will terminate or fail...
Page 8 - That within the meaning of this Act no corporation, partnership, or association shall be deemed a citizen of the United States unless the controlling interest therein is owned by citizens of the United States, and, in the case of a corporation, unless its president and managing directors are citizens of the United States...