26 U.S.C. § 2207B — Right of recovery where decedent retained interest
submitted 38 years ago by Pub. L. 100-647 to r/title-26-INTERNAL-REVENUE-CODE · 232 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
If any part of the gross estate on which tax has been paid consists of the value of property included in the gross estate by reason of section 2036 (relating to transfers with retained life estate), the decedent’s estate shall be entitled to recover from the person receiving the property the amount which bears the same ratio to the total tax under this chapter which has been paid as—
the value of such property, bears to
the taxable estate.
Paragraph (1) shall not apply with respect to any property to the extent that the decedent in his will (or a revocable trust) specifically indicates an intent to waive any right of recovery under this subchapter with respect to such property.
For purposes of this section, if there is more than 1 person receiving the property, the right of recovery shall be against each such person.
In the case of penalties and interest attributable to the additional taxes described in subsection (a), rules similar to the rules of subsections (a) and (b) shall apply.
No person shall be entitled to recover any amount by reason of this section from a trust to which section 664 applies (determined without regard to this section).
Source credit: (Added Pub. L. 100–647, title III, § 3031(f)(1), Nov. 10, 1988, 102 Stat. 3637; amended Pub. L. 101–508, title XI, § 11601(b)(1), Nov. 5, 1990, 104 Stat. 1388–490; Pub. L. 105–34, title XIII, § 1302(b), Aug. 5, 1997, 111 Stat. 1039.)
- 1988Enacted · Pub. L. 100-647 · 102 Stat. 3637
- 1990Amended · Pub. L. 101-508 · 104 Stat. 1388
- 1997Amended · Pub. L. 105-34 · 111 Stat. 1039
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-647 on 1988-11-10.
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