26 U.S.C. § 2015 — Credit for death taxes on remainders

Page 2574 TITLE 26—INTERNAL REVENUE CODE § 2015 EFFECTIVE DATE OF 1966 AMENDMENT Amendment by Pub. L. 89–809 applicable with respect to estates of decedents dying after Nov. 13, 1966, see sec- tion 106(b)(4) of Pub. L. 89–809, set out as a note under section 901 of this title. EFFECTIVE DATE OF 1959 AMENDMENT Amendment by Pub. L. 86–175 applicable with respect to estates of decedents dying on or after July 1, 1955, see section 4 of Pub. L. 86–175, set out as a note under section 2053 of this title. EFFECTIVE DATE OF 1958 AMENDMENT Pub. L. 85–866, title I, § 102(d), Sept. 2, 1958, 72 Stat. 1675, provided that: ‘‘The amendments made by this section (other than by subsection (b)) [enacting section 2208 of this title and amending this section and sections 2011 and 2053 of this title] shall apply to the estates of decedents dying after the date of the enactment of this Act [Sept. 2, 1958]. The amendment made by subsection (b) [amending section 2501 of this title] shall apply to gifts made after the date of the enactment of this Act.’’ § 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 allow- able as a credit under section 2014, as is attrib- utable to a reversionary or remainder interest may be allowed as a credit against the tax at- tributable to such interest, subject to the limi- tations on the amount of the credit contained in such sections, if such part is paid, and credit therefor claimed, at any time before the expira- tion of the time for payment of the tax imposed by section 2001 or 2101 as postponed and extended under section 6163. (Aug. 16, 1954, ch. 736, 68A Stat. 379; Pub. L. 85–866, title I, § 66(a)(1), Sept. 2, 1958, 72 Stat. 1657; Pub. L. 107–16, title V, § 532(c)(4), June 7, 2001, 115 Stat. 74.) Editorial Notes AMENDMENTS 2001—Pub. L. 107–16 struck out ‘‘2011 or’’ before ‘‘2014’’. 1958—Pub. L. 85–866 substituted ‘‘the time for pay- ment of the tax imposed by section 2001 or 2101 as post- poned and extended under section 6163’’ for ‘‘60 days after the termination of the precedent interest or inter- ests in the property’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE 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 2012 of this title. EFFECTIVE DATE OF 1958 AMENDMENT Pub. L. 85–866, title I, § 66(a)(3), Sept. 2, 1958, 72 Stat. 1658, provided that: ‘‘The amendments made by para- graphs (1) and (2) [amending this section and section 927 of I.R.C. 1939] shall apply in the case of any rever- sionary 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].’’ § 2016. Recovery of taxes claimed as credit If any tax claimed as a credit under section 2014 is recovered from any foreign country, the executor, or any other person or persons recov- ering such amount, shall give notice of such re- covery to the Secretary at such time and in such manner as may be required by regulations pre- scribed by him, and the Secretary shall (despite the provisions of section 6501) redetermine the amount of the tax under this chapter and the amount, if any, of the tax due on such redeter- mination, shall be paid by the executor or such person or persons, as the case may be, on notice and demand. No interest shall be assessed or col- lected on any amount of tax due on any redeter- mination by the Secretary resulting from a re- fund to the executor of tax claimed as a credit under section 2014, for any period before the re- ceipt of such refund, except to the extent inter- est was paid by the foreign country on such re- fund. (Aug. 16, 1954, ch. 736, 68A Stat. 380; Pub. L. 94–455, title XIX, §§ 1902(a)(12)(C), 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1806, 1834; Pub. L. 107–16, title V, § 532(c)(4), June 7, 2001, 115 Stat. 74; Pub. L. 107–147, title IV, § 411(h), Mar. 9, 2002, 116 Stat. 46.) Editorial Notes AMENDMENTS 2002—Pub. L. 107–147 struck out ‘‘any State, any pos- session of the United States, or the District of Colum- bia,’’ after ‘‘any foreign country,’’. 2001—Pub. L. 107–16 struck out ‘‘2011 or’’ before ‘‘2014 is recovered’’. 1976—Pub. L. 94–455 struck out ‘‘Territory or’’ after ‘‘any State, any’’ and ‘‘or his delegate’’ after ‘‘Sec- retary’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2002 AMENDMENT Amendment by Pub. L. 107–147 effective as if included in the provisions of the Economic Growth and Tax Re- lief Reconciliation Act of 2001, Pub. L. 107–16, to which such amendment relates, see section 411(x) of Pub. L. 107–147, set out as a note under section 25B of this title. EFFECTIVE DATE 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 2012 of this title. EFFECTIVE DATE OF 1976 AMENDMENT Amendment by section 1902(a)(12)(C) of Pub. L. 94–455 applicable to estates of decedents dying after Oct. 4, 1976, see section 1902(c)(1) of Pub. L. 94–455, set out as a note under section 2012 of this title. PART III—GROSS ESTATE Sec. 2031. Definition of gross estate. 2032. Alternate valuation. 2032A. Valuation of certain farm, etc., real property. 2033. Property in which the decedent had an inter- est. [2033A. Renumbered.] 2034. Dower or curtesy interests. 2035. Adjustments for certain gifts made within 3 years of decedent’s death. 2036. Transfers with retained life estate. 2037. Transfers taking effect at death. 2038. Revocable transfers. 2039. Annuities. 2040. Joint interests.