Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-04-16
OFFICIAL NOTICES

u. c. GOVERNMENT a. 1a56
ORDERED: That Section 4 Id OF
Ene regulations Pertaining to the
Ulstriet OF Columbia inheritance
any Estate Tax Law. as amended,
20 40 HtejnsOY Iuriner amended to read
nee Tor life or years has the right
IN ms sole discretion to expend or
consume the corpus, or mart
thereof, fos his own use. the taxable
Falue OF the interest OF the donee
!oI lie or years in such corpus, or
Such part thereof. shall be the
saIpe OF the entire corpus or Of
be, so expended or CONSUMED without
reference to the method Of de-
termining the value OF the lie
interest or OF all estate for years
as provided in subsections tal and
lDl OF this section, except Insofar
as the market value OF sucn Eart
0! the corpus as may be expended
VI consumed may be computed with
reference to a fixed and definite
standard. stated in the Instrument
creating the corpus. for the expen-
dlture or consumption. In cases 10
Wnlch this subsection is applicable
tne future interest in the corpus,
TO the extent to which the corpus
may be expended or consumed as
Set Iortn IN this subsection. shall
pc presumed to have no market
value unless there shall be filed with
me Assessor concurrently with the
ming OF the tax returns REQUIRED
10 be filed for the purpose OF as
seSSment of an inheritance tax upon
the interest. of the donee for life
or years and upon the future inter-
esq IN the corpus tangible evidence
reiating 70 the age. life expectancy.
hnnIfh tr,.a nl u
OF living, economic circumstances,
and other sources Of income OF the
donee for life or years, and such
additional evidence thereafter, prior
70 assessment, as the Assessor may,
IN MS discretion, require for the
purpose of determining the market
value referred to in this subsection;
tax return has been filed prior to
sixty days after the date Of this
amendment to the regulations. the
evidence required to overcome the
presumption Of this subsection NAV
BE filed with the Assessor of the
District of Columbia within sixty
GAYS after the date Of this amend
mtheht 70 the resulations. ca Where
tne corpus may be expended or
any person or persons for the
benefit Of. or on behalf of, a doneeI
Tor life or years, whether or not
such donee for life or years shall
personally have such right of in
Vaslon or use. the taxable value
Of the interest of the donee for
be the value Of the entire corpus
or CT, such part of the corpus asI
may be so expended or consumed,
without reference to the method
OF determining the value of a life
interest or of an estate for wears
as provided in subsections tal and
(b' Of this section, except insofar
as the market value Of such part
or. consumed may he computed with
reference to a fixed and definite
standard. stated in the instrument
creating the corpus. for the expen-
diture or consumption. In cases
to which this subsection is appli-
cable. the future interest in the
corpus, to the extent which the
sumed as set. forth in this sub
section, shall be presumed to have
no market value unless there shall
be filed with the Assessor con-
currently with the filing of the
tax returns required to be filed
for the purpose Of assessment Of
an inheritance tax upon the inter-
Cot vi lue uOilce IOt lie vi YEATS
and upon the future interest in the
corpus. tangible evidence relating
to the age life expectancy, state
of health. accustomed scale of liv-
ing, economic circumstances, and
other sources OF income of the
donee for life or years, and such
additional evidence thereafter, prior
to assessment, as the Assessor NAV.
in his discretion, require for the
purpose of determining the market
value referred to in this subsection;
provided. that in cases where the
tax return has been filed prior to
amendment to the Regulations the
evidence required to overcome thisl
presumption may be filed with the
Assessor within sixty days after
the date of this amendment n the |
REGULATIONS. S. SPENCER: R. E.
MCLAUGHLIN; T. A. LANE. Com
f-