Source: http://taxtv.com/code/00960-USCODE-2011-title26-subtitleB-chap12-subchapA-sec2503/
Timestamp: 2017-06-27 03:42:17
Document Index: 51766883

Matched Legal Cases: ['§2503', '§2503', '§2503', '§102', '§702', '§311', '§441', '§1898', '§1018', '§7811', '§501', '§1018', '§442', '§441', '§102', '§2', '§2503']

IRC §2503. Taxable gifts - TaxTV.com
IRC §2503. Taxable gifts
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(B) in the event the donee dies before attaining the age of 21 years, be payable to the estate of the donee or as he may appoint under a general power of appointment as defined in section 2 4(c).
(Aug. 16, 1954, ch. 736, 68A Stat. 404; Pub. L. 91–614, title I, §102(a)(3), Dec. 31, 1970, 84 Stat. 1839; Pub. L. 95–600, title VII, §702(j)(2), Nov. 6, 1978, 92 Stat. 2931; Pub. L. 97–34, title III, §311(h)(5), title IV, §§441(a), (b), 442(a)(3), Aug. 13, 1981, 95 Stat. 282, 319, 320; Pub. L. 99– 4, title XVIII, §1898(h)(1)(B), Oct. 22, 1986, 100 Stat. 2957; Pub. L. 100–647, title I, §1018(s)(2)(A), (u)(52), Nov. 10, 1988, 102 Stat. 3586, 3593; Pub. L. 101–239, title VII, §7811(m)(1), Dec. 19, 1989, 103 Stat. 2412; Pub. L. 105–34, title V, §501(c), Aug. 5, 1997, 111 Stat. 846.)
1988—Subsec. (e)(2)(B). Pub. L. 100–647, §1018(u)(52), substituted “section 213(d)” for “section 213(e)”.
1986—Subsec. (f). Pub. L. 99– 4 added subsec. (f).
1981—Subsec. (a). Pub. L. 97–34, §442(a)(3)(A), substituted “the total amount of gifts made during the calendar year, less the deductions provided in subchapter C (section 2522 and following)” for “, in the case of gifts made after December 31, 1970, the total amount of gifts made during calendar quarter, less the deductions provided in subchapter C (sec. 2521 and following” and struck out provision that in the case of gifts made before Jan. 1, 1971, “taxable gifts” means the total amount of gifts made during the calendar year, less the deductions provided in subchapter C.
Pub. L. 97–34, §441(a), substituted “$10,000” for “$3,000”.
1970—Subsec. (a). Pub. L. 91–614, §102(a)(3)(A), divided definition of “taxable gifts” into gifts made after Dec. 31, 1970, where taxable gifts are based on the total amount of gifts made during the calendar quarter, less the applicable deductions, and gifts made before Jan. 1, 1971, where taxable gifts are based on the total amount of gifts made during the calendar year, less the applicable deductions.
Section 1018(s)(2)(B) of Pub. L. 100–647 provided that: “The amendment made by subparagraph (A) [amending this section] shall apply to loans after July 31, 1969.”
Amendment by section 1018(u)(52) of Pub. L. 100–647 effective, except as otherwise provided, as if included in the provision of the Tax Reform Act of 1986, Pub. L. 99– 4, to which such amendment relates, see section 1019(a) of Pub. L. 100–647, set out as a note under section 1 of this title.
Amendment by Pub. L. 99– 4 effective as if included in the provision of the Retirement Equity Act of 1984, Pub. L. 98–397, to which such amendment relates, except as otherwise provided, see section 1898(j) of Pub. L. 99– 4, set out as a note under section 401 of this title.
Section 441(c) of Pub. L. 97–34, as amended by Pub. L. 99– 4, §2, Oct. 22, 1986, 100 Stat. 2095, provided that:
“(D) the State has not enacted a statute applicable to such gift under which such power of appointment is to be construed as being defined in terms of, or by reference to, the amount of the exclusion under such section 2503(b) after its amendment by subsection (a),
Section 702(j)(3)(B) of Pub. L. 95–600 provided that: “The amendment made by paragraph (2) [amending this section] shall apply to transfers made after December 31, 1976.”
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