26-U.S.C.-645
§645 – Certain Revocable Trusts Treated As Part of Estate
Pathway
Title 26 > Subtitle A > Chapter 1 > Subchapter J > Part I > Subpart A > Section 645
Details
- Reference: Section 645
- Legend: §645 – Certain Revocable Trusts Treated As Part of Estate
- USCode Year: 2013
Provision Content
(a) General rule
For purposes of this subtitle, if both the executor (if any) of an estate and the trustee of a qualified revocable trust elect the treatment provided in this section, such trust shall be treated and taxed as part of such estate (and not as a separate trust) for all taxable years of the estate ending after the date of the decedents death and before the applicable date.
(b) Definitions
For purposes of subsection (a)—
(1) Qualified revocable trust
The term qualified revocable trust means any trust (or portion thereof) which was treated under section 676 as owned by the decedent of the estate referred to in subsection (a) by reason of a power in the grantor (determined without regard to section 672(e)).
(2) Applicable date
The term applicable date means—
(A) if no return of tax imposed by chapter 11 is required to be filed, the date which is 2 years after the date of the decedents death, and
(B) if such a return is required to be filed, the date which is 6 months after the date of the final determination of the liability for tax imposed by chapter 11.
(c) Election
The election under subsection (a) shall be made not later than the time prescribed for filing the return of tax imposed by this chapter for the first taxable year of the estate (determined with regard to extensions) and, once made, shall be irrevocable.
(Added Pub. L. 105–34, title XIII, §1305(a), Aug. 5, 1997, 111 Stat. 1040, §646; renumbered §645, Pub. L. 105–206, title VI, §6013(a)(1), July 22, 1998, 112 Stat. 819.)
Prior Provisions
A prior section 645 was renumbered section 644 of this title.
Amendments
1998—Pub. L. 105–206 renumbered section 646 of this title as this section.
Effective Date
Pub. L. 105–34, title XIII, §1305(d), Aug. 5, 1997, 111 Stat. 1041, provided that: The amendments made by this section [enacting this section and amending section 2652 of this title] shall apply with respect to estates of decedents dying after the date of the enactment of this Act [Aug. 5, 1997].
U.S. Encyclopedia of Law Coverage
26-U.S.C.-644 in the Legal Encyclopedia: Income Taxes
In this entry about 26-U.S.C.-644, find legal reference material, bibliographies and premiere content related to income taxes in the American Encyclopedia of Law, presenting a comprehensive view of the United States income taxes-specific issues, written by authorities in the field.
26-U.S.C.-641 in the Legal Encyclopedia: Tax Liability
In this entry about 26-U.S.C.-641, find legal reference material, bibliographies and premiere content related to tax liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax liability-specific issues, written by authorities in the field.
Subpart A – General Rules For Taxation of Estates and Trusts in the Legal Encyclopedia: Taxation
In this entry about Subpart A – General Rules For Taxation of Estates and Trusts, find legal reference material, bibliographies and premiere content related to taxation in the American Encyclopedia of Law, presenting a comprehensive view of the United States taxation-specific issues, written by authorities in the field.
26-U.S.C.-642 in the Legal Encyclopedia: Liability
In this entry about 26-U.S.C.-642, find legal reference material, bibliographies and premiere content related to liability in the American Encyclopedia of Law, presenting a comprehensive view of the United States liability-specific issues, written by authorities in the field.
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