\ t 2015 _. srzzmv 26.-;-INTEL
igtae text,.•re sgt out in QQ 1101. ind _110-1, rmx. l
uveay, &·'1‘it1e°2¤. I¤¤¤m· Rrmwm “Th¤• uu¢,•• nm-ua pe-; .fd;l'$ oesrtitutu c, 20 atwh &t¤¤e¤ta1 tit1e.—» "·'1‘hi• Act," »
tv. ‘<=¤¤¢it¤¢9¤· tk! mmdum um. fsummgmf
(gg or { 308, nations! in the text, is ntlout is 9,1101 of tm; qsvaniwwtu ¤*l¢·· €p 810, 811. wd M9, meptmned 1¤ tue text, set wt in it 1110,`1111,'s¤d_1120, rupoqtheiy, ot this
title- - B¢¢t¥¤¤ 312. similarly m§¤tio.ned, is sgi:. out
in it 1164.; 1105. ud. ;187 of thik ·¤¤pp;e¤e¤m title. Section 11®;`s1¤;1¤r1y mehticmd. is set out in H 195 and 108 prmxs ,_ III$•`LiI&!"}f trtnsferey u' iduidry;·as»•cssine¤t and col ; B§“|*ii¤Q·—(¤) THR QNOUBCQ of the Iollowiug 1ia—~ biiidcs Skill. 6X@@ 88 Mvéilmftér i¤ this séctiou proyidgd, be asxd, odlocwd. ind mid in fhg muah: quo subject to tm ¤amc·¤r¤vi¤¤¤¤¤ md limimucnstas in the case or ¤W¤euQ cienizy in a tax by this title (iixcluding the provisions _in mso of d9u[Nl¤9D¢Y/ill paymexxtatter uotiéédnd Qemand, the proymous authorising distraint and proceedings `in court for icolléfrtion, and. Provisions probibiting.c1ai1@1é `and suits for refunds): ‘ _ (1)· The liability, Qt law or in equity, of a transferee of pmperty of a decedent or donor, i1rre.spect’ ot. the tax' fincluding. interest,-additioua1.am0uuts, and addition; to the tax brovldod V by law) imposed by_this title or_by guy prior osthtetax Actor; byhnygifttaxmttl Q _ ' W2} The liability of a Hdubiary under section 3467 of _ the Re_vised_ Statuteé in of the hpgyment of :;z1y_sucI1 tax from the @tote otthe decedent or donor. , — t ·_
Any such liability. may bel either as to the amount oi tax
o shownxm thefreturxi ofqs to any deficiency ih Y I (b) Thé perloq. ot limititiou for- assessment of any such lio- Jbility of a transferee or iiquclary shrill bB_·ilS follows.: I ‘ . _ ‘ (1) Within one yeaj· after the éipiratiou; of the period of limitation for assessment agathx the éxocutor or douof; or (2)*If .tl{e_ period of limitation for assessment -against.-_the executor expired before tho enactment of this Act but asséésé, ment akniuétthe executor was made within such period, then within sixjyeaté after the making of such assessment againstthe executor, but. in no'casc`later than one year after the emctmeut ofthis Act. ·» ._ _ “Z . . - it _ (3) If} court proceeding against the executor or donor fo?. tho collection off the 'tdx has boeu··begun.;withii1» either of the above pergods, them-within one year after return ot oxccutiou tinsuch proceeding}.- i - ‘- Q ‘ ‘. l' · .·
(c) TM running of the period ot limitation upon the assess- t,
ment of the lihbilityf of a transferee or Hduciory shall, dftor, the. . mailing of the notice under subdivision (a) of section 308 to the transferee or, Hdgncisiry,. be suspended? for the. pcrivd during which the·joommissioi1¤1·_ is' prohibited from making the. assessment in respect obthé lia,bi”litj* of the transferee or iiduciary, a_nd’fo1·~s{xty days thefenitotf. ’ _ . _ ` (d) Thisslsectiou @11 not swig to any shit or other pijoceeding {ortho enforcement ‘ot_tho liability of a transferee or iidu-- ciary pending at the time ot the enactment of this Act. ' .(e) Aqusod in this section, the to;m‘“Afr`Hus£oreé" includes .j· heir, lgatoo, devisee, and distributéo., (Feb,. 26; 1926; c, 27, §318,}i48tnt.S0.) ‘ · ‘ ’ ‘ . _· New scctiouj i _ » .. . ·A , '*•..'1‘his title/` herein referred to,' constitutes cy 20 of this s`upple—. mental title. Subdivision (•.) of S 308, mentioned ini -thé to;t,_ is set out mj-,1101 or rmi qupplemeum ut1t·.` section 3467 of the·Bcytséd,;`Statutes,- qxmxmqy me¤uo¤ea,·1S sox out gn I 19'2 or Title 31, Hom=:1`nm Fnnxcn.; 2 _ .. _ , _ 1120. Refund or suit for recovery of mmecions on; limitation.--(a) If me oommtmouer has mailgd to the execu; tor a uotioo ot- ’de§ciei1cy subdivision (`a) ot. scction_ 308 and ifthé executor attcr'the·cmctmont_ oi this Act mes a pt-Bti-, . tion with iilie Board ot Tax Appuls within the time proséribed Q in Slwh- subdivision, po refimd in respect of the tax shall be . ,,_ I \
nNAL`1wn}1vUE §1121 allowed OI made and no 'suit fqr the rccovehy for any. part of _such tax shall he institutedin unycomrt, except- , ’ " (1) "As prqvidcq in subdivision (c) 'ci this s&i0¤ qr in sub-, division. (i) qt sectiml 312 or iujéubdivision (b), "(e), 01* lg)- 00 section 318 `or in subdivision (d) of section 1001; and , · (2) tp, any amount, collected lu excesé ot_ an gmount computed in accqrdance with the decision qt- the board which has bcccgne iinal; gud, - . _ · . _ . (3) As to-any amouht collected aftgr the statqtorl period of limitations, upon the beginning ot dlst1‘ai¤t cir ayptoceeqlrig in , c0urt_£0r ;colleg:tion» has expired; but in Tany such claim for xelfuud op ih any such suit {br rgguua the decision of tht? board which has become iinal, ·as_·t0 whether such expired sbeforc the notice ot tlehciency wds mil bc coichislve. , _ (b) All chime tor, the refunding dt the tax immed by this title allegetll to · 'hgve been- erroneously my illwilyt a d or_ 0 collected . must be presented w the commiwicner within three 0 ,yegrs next after the payment of suéhjnx. . __ . I ‘ ·(_c) _It the hoard iiuds that there is no dehcicncy and furthe; 0_iind_s that the executohhas mqde an overpayment of tax, the · g
boargi- shall have jurisdiction to determine the amount of. meh `e
”0verpay;he¤rt, myd such amount shell, when the dechion ,0f we i board has become final, be credited or reefunded to_ the executor. " has provided ih section 3220 of the Bciim Stat¤tm` as gmenkd.
- Such refund shall be matic either (1) it claim therefor was '
Hléd within. the period ot: limitation provided for by hw, or
0 (2) ifthe petition w‘as,’dled with the board within tpuxjyeanjs aftér the tax was paid;` dr, in `the case of V: tigxjmpobed 'hy
thié title, withlh three··yeg1{s after the tax was paid. (Feb,
{1926, c.·27, §· 319, 44}Stat. 84.) V ‘ ` _ New._pecti0u.·Y` fx e _ R __ . ) __ ‘f This title,f’ herein referred- t0,;c0¤stitutcs ”c._ 20 of this www ‘ I, ,mental’ title. - Section 3220 qt the. Revised Statutes, mentioned in _ the text,`is set out in 3 140 ot Title 26, Ixrsnxm §¤v¤sun.__ Sub- Y divisibn la) of _§ 308 audsubdivisiqn (i) dt {312, ih ` the text; are set _0ut·.iu §§ 1101- apc} 1104, respectively, of this` supplemental title. Sections 318 and _1001,·als0_`meuti<>,¤ed, are set -‘ out in. $$,1118 and 1224, respectively, of said tlitle; _ _ _ ~ 11212 Refurids; interest.-¥Any tax that has been; gmder fhe p1·0visions-of Tiéle III of the Rcvenué Act of .1924 prior to the enactment of this Act in, excess of the tax imposedpy _ __ guph title as amended by this Act shall be refunded without . interest,. (Feb. 20, 1926, c. _27, § 325, 44 Stat. 87.) ‘_ " ` `.New‘seetion, · .- l · x ’ . $ Title IIl_0!` the Revenue Act of 1924, mentioned in the text, l , constitutes c. 20 dt Title 26, Ixrsnxhn Rjzymxum. , t ` . ·‘rA¤T`11.-GIFT TAX [BEPEALED] _,
The ·statutes.c9nstituting §§•1l31= to 1136 of Title 20 of the
$ ‘ Code were repealed by -the,Act of Feb. 20, 1926, c. 27; § 1200, `4{ 0 Stat; -125, asfot January 1, 1926. Section` 324 0: the sum act . retroactively axinends S 319 of the Revenue Act ot 1924, which chustltutes j 113l_0t said title, as Vt‘0l10v?_i:` ·- ‘ . _ . _ ‘ ` F ‘f For thecnlehqlar ye¤1‘·1924 had the calendar, year 1935. a tax equal to the sum°_0t the following is hereby imposed upon tht; trqnster by a · resident by sift during puch calendar year ct any 0 , 1·0perty.‘wl1erever situated, whether matic directly pr indirectly, (uq upon theltmnsfer by :1 nonresident by gift during such · calendar; year ot any property situated within the United States. "whether made directly or indirectly} ·_ 3 _ * ` " 1 pei centum of the amount oi thetsxable gifts not in exevsg . .,·¤t$50,000;· _ ’_ ` I _ _, - ‘,‘”2 per centinm ot the amounbby which the taxable gifts exwml $50,000 and do ncfcxceed $150,000; ‘ · · — _" 3 per pchtum pi the amount by which the taxable gifts exceed $150,000 and do not exceed $250,000: g - ‘t‘ 4 per qentum. of the amount by which the tdxnhle gms. t··<ce·€‘·! · $250,000 and Ao norexceed $450,000.; .· · · ’ _ " 6 per Scentum of the umciunt by which the. taxable gifts exceed. `_ $450,000 and do not exceed $750.000: ·· ‘ . _ **8 per ceutum of they anjoqnt by which Phe taxable gift; exceed $750,000 and do notexceed $1.000,000: · · ~ · · . _ _ . " 10 per centum qt the amount by which the taxable gifts exceed ` $1,000,000 had dd uotexceeq $1,500,000; _ .
