Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section2207B&num=0&edition=prelim
Timestamp: 2020-01-29 11:15:34
Document Index: 311352200

Matched Legal Cases: ['§ 2207', '§2207', '§3031', '§11601', '§1302', '§11601', '§11601']

[USC02] 26 USC 2207B: Right of recovery where decedent retained interest
<< Previous TITLE 26 / Subtitle B / CHAPTER 11 / Subchapter C / § 2207B Next >>
26 USC 2207B: Right of recovery where decedent retained interest Text contains those laws in effect on January 28, 2020
§2207B. Right of recovery where decedent retained interest
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-
(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 .)
1997-Subsec. (a)(2). Pub. L. 105–34 amended heading and text of par. (2) generally. Prior to amendment, text read as follows: "Paragraph (1) shall not apply if the decedent otherwise directs in a provision of his will (or a revocable trust) specifically referring to this section."
1990-Subsec. (b). Pub. L. 101–508, §11601(b)(1)(A), redesignated former subsec. (c) as (b) and struck out former subsec. (b) which read as follows: "If for any calendar year tax is paid under chapter 12 with respect to any person by reason of property treated as transferred by such person under section 2036(c)(4), such person shall be entitled to recover from the original transferee (as defined in section 2036(c)(4)(C)(ii)) the amount which bears the same ratio to the total tax for such year under chapter 12 as-
"(1) the value of such property for purposes of chapter 12, bears to
"(2) the total amount of the taxable gifts for such year."
Subsec. (c). Pub. L. 101–508, §11601(b)(1), redesignated subsec. (d) as (c) and substituted "subsection (a)" for "subsections (a) and (b)" and "subsections (a) and (b)" for "subsections (a), (b), and (c)". Former subsec. (c) redesignated (b).