26 U.S.C. § 2015 — Credit for death taxes on remainders
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 109 words · no verdicts yet
If an election postpones payment of the tax imposed by section 2001 or 2101, the law may allow the part of the credit for estate, inheritance, legacy, or succession taxes attributable to a reversionary or remainder interest to be credited against the tax attributable to that interest. The tax must be paid, and the credit claimed, before the postponed and extended payment deadline.
When someone elects under section 6163(a) to postpone payment of the tax imposed by section 2001 or 2101, the part of the credit allowed under section 2014 for estate, inheritance, legacy, or succession taxes that is attributable to a reversionary or remainder interest may be credited against the tax attributable to that interest. This is allowed only if that part is paid, and the credit is claimed, before the time for paying the tax under section 2001 or 2101 expires after the postponement and extension under section 6163.
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 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.
Source credit: (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.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1958Amended · Pub. L. 85-866 · 72 Stat. 1657
- 2001Amended · Pub. L. 107-16 · 115 Stat. 74
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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