26-U.S.C.-2207
§2207 – Liability of Recipient of Property Over Which Decedent Had Power of Appointment
Pathway
Title 26 > Subtitle B > Chapter 11 > Subchapter C > Section 2207
Details
- Reference: Section 2207
- Legend: §2207 – Liability of Recipient of Property Over Which Decedent Had Power of Appointment
- USCode Year: 2013
Provision Content
Unless the decedent directs otherwise in his will, if any part of the gross estate on which the tax has been paid consists of the value of property included in the gross estate under section 2041, the executor shall be entitled to recover from the person receiving such property by reason of the exercise, nonexercise, or release of a power of appointment such portion of the total tax paid as the value of such property bears to the taxable estate. If there is more than one such person, the executor shall be entitled to recover from such persons in the same ratio. In the case of such property received by the surviving spouse of the decedent for which a deduction is allowed under section 2056 (relating to marital deduction), this section shall not apply to such property except as to the value thereof reduced by an amount equal to the excess of the aggregate amount of the marital deductions allowed under section 2056 over the amount of proceeds of insurance upon the life of the decedent receivable by the surviving spouse for which proceeds a marital deduction is allowed under such section.
(Aug. 16, 1954, ch. 736, 68A Stat. 402; Pub. L. 94–455, title XX, §2001(c)(1)(I), Oct. 4, 1976, 90 Stat. 1852.)
Amendments
1976—Pub. L. 94–455 substituted the taxable estate for the sum of the taxable estate and the amount of the exemption allowed in computing the taxable estate, determined under section 2052, or section 2106(a), as the case may be after property bears to.
Effective Date of 1976 Amendment
Amendment by Pub. L. 94–455 applicable to estates of decedents dying after Dec. 31, 1976, see section 2001(d)(1) of Pub. L. 94–455, set out as a note under section 2001 of this title.
U.S. Encyclopedia of Law Coverage
26-U.S.C.-2058 in the Legal Encyclopedia: Estate Tax
In this entry about 26-U.S.C.-2058, find legal reference material, bibliographies and premiere content related to estate tax in the American Encyclopedia of Law, presenting a comprehensive view of the United States estate tax-specific issues, written by authorities in the field.
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