§ 1091 r1r1.E 26.-zyzm of 1918 ( or by sections; 230 and 301 of the Revenue Act ot 1921, in the case of income received during the. calendar year 1921), but no interest or penalties shell be dnie or payable thereon for ·> any period prior to the date upon which the return is by this section required to be made and theiirst instullmeilt paid. The amount of tax paid by any sha.1·&0lder ormember of a personal service corporation pursuant to the proviqions of subdivision (e) of section 218 'ot the Revenue. Act' of 1918 pr subdivision (d) of section 218 of the Revenue Act of 1921 shullbe credited against the tax due from such corporation under this section upon the joint writtemapplication ot such corporation and such shamholder or member or his representatives, heirs, or assigns, if such- application` is tiled with the Commissioner ot Internal Revenue within six monthsjrom such date of entry of decree. · (f) Notwithstanding `any other- provision of law, no clgim for `a credit or refund oftaxes paid unde1·—subdivisi0ii_' (e) ot section 218 of the Revenue Act of 1918 or subdivision (d) 01 sec·tion· 218 ot the Revenue ._Act° of 1921_maj be. filed after the expiration of six months from such..date of entry of decree: lnrovidcd, Itowepcr, That apersomal service corporation of wlnioh nn shareholder or member has died such claim. within such period of six months sl1all__ not be subject- to the"ta`x imposed by this motion;. (Nova 23, 1321. c. -136,' §. 1332, Stat. 319.) ‘ Chapter 20.;-ESTATE AND GIFT. TAX. 1 ' - Part I.—1¤1s'1‘A'1‘E TAX. 1091. Dednitions. A ~ . - 1092e I‘ercenta~ge`0f_tax. — 7. _ I- · .· e 109... 'Faxes paid States, Territories; or District of Cglumbia as credits: - limitation.} __ · ·. "` · 1094.- Gross estate; {value ot, . - 1095. Net estate; how determined. _ .. . ‘ 19%, Executors; notice ot appointment; returns; time for Bling; . contents. · ‘ _ _ { . 1697. _'1‘i_me for payment of fax; to whom payable; extension of time: ‘ interest; - _ _ G . i ‘· 1098. Sumo; tax imposed by forme1·_·ll1w; extension of time for pay- ment. " ~ _‘ ` ` 1099. Examination of return end deteqmination of amount of tax. 1l00,'lretlcie¤cy; what c0¤st1tute8. · ‘ * 11Q1. Same; notice ot; appeal by executor. . _ - ` 1102. Same; determination by board; assessment and payment ot; éollecztion ot dedc1e·ncy‘ allowed. =: _ · _ . 1103. Same; failure to _¤le appeal; assessment and payment ofde- ` iiclencyj - l·_ L _ “ . . ‘ _ A 1104. Same; assessment and collection ot denclencywhere delay wotnld · . be dangerous; claims in abntemmt. · ‘ ' 1105. Same; claim {ter abatement ot decision and appetl; interest _ pn claims denied. · · 1108. Same; lnterestionj _ _ $ 1107. Sem; extension gt time for payment of. . _ 1108. Additional tex to: {allure to die return assemed, and no forth, - as dedciqncy. ’ · ‘· -` 1109. Ipterest.·on_-unpaid tixes. . , 1110, Time for assessment and collection ot tex. . ` 1111; Same; false M freuduleatreturns: time for collection by dls· 1 tralet orcomt vrooeedws. _ /4 A " » 1112. Daplicate tax receipts; discharge of executor from personal - liability. , . · ‘ 1113. Lien for demzlency; liability of bone Ade purchaser. _ 1114. Collection ot tex; ale of property: relmburnement ol person ' pnymptsx; liability of iustgmeee ben$c1•.rles. _ 1115; Lien of tex; llibillty of transteree ostrustee of decedent; bona . ddé purénseu. _ . _ . . ` 1118.‘I·‘a1se gtatmentog penglty; failure to make return or dlnclcn lsztormetloa; penalty. . K. " r 1 _ 1,117. Estates ln Chim; payment of tax to clerk of United States ' _ Court tex- Chim,. · · · · . 1118. maemue andcollectlcn of tnx_unde: prior laws. _
IL-—GIF"|.' TAI
1131. Gifts subject to tax; percentage. . A 1132. Some; value oi gift; property sold or exchanged. ‘ ‘ · A ` ( 1133. Exeaptioa and deduction;. · i ` 1134. Credits. _` _ 1135. Returns. . · · o 1136, `Assusinent; collection; payment. ‘ __
?RN4L REVENUE 834 . · ‘ Part I.--ESTATE TAX 2 Section 1091. Delinition‘s.—4Wheu used in Part I ot· {ms L chapter- 1 _ ‘ ° ( ·_ , - ` _ The term "cxccut01·" means the executor or admihistramr i of the deceden_t,_ or, if there is no executoxi or administrator I appointed, qualmed, and acting within the United States? phen L any pei·son in actual ·01' constructive possession of any pmp.
- erty oi, the decedent; 4 ~ _The tgrm ‘?i1et €SC11tE" means the net estate as determined
I under §he provisions of section 1095 of t1fis· ti{t1e;` _ ” ‘ 0 0 · . The term " mouth" means calendar mémh; and
. The term " c0l1ect0f" means the collector of interna! revenue
. of the district in 'which was the domicile of the decedent uc T _,the time of his death, .0r, it therewas no such domicile in um [ United Sgates, thai; the coflectoxjot the district in which is L` situated the part of the gross estate of the decedent in the Q _Uni;ed Statgs, or, it such part of the gross mute is simamx
in m0rcj:·11uu{g>ne,$listri<;t, tlie11-the~ collector df jntérnsl rm;-
nue ct such distri¢t aa;may be designated by t¤_ Commisf ' _` sioner of Internal Revenue. (June ·2, 1924, 4.01 p. mg c. H4, 5300,.43 Stat. 303.) · M . 0 ‘ 0-
1092. Percentage of tdx.—A {ax equal to the sum ot the fullowing percentages of the value gt. the net; estatg, (Mtermincd
asjbrovidéd in s§é`ti011 1095 of this tgitle) is impésed upon the transfer of jhe net estate ot every decedent dying after 4.01 ~p0stmer1t1ian, Junej 2, 1924, whether a residént or nonresident of the United Statgs: · n ‘ ·· _Q · _— · 1 pet ceqtum of athe 8m0l1Hfo£'th€'B€t estate not in excesg ` of $50,0003 r ` D · W l 2 per centhm of the amount by which the net estate exceeds
and d0es`1i0t-_exceed $100,600;; ’ _ —. ‘ `- .
A 3 per centum ot thé amount by whph the pct estate exceeds ` $_1q0,000 and (lbcs n0t’~ exceed $1.50,000; 3 · · 4 per cenfum of the amount by which the net gstatc excéeds $150,000 anddoes ndt exceed . __ , . {pet cgntum of the am0u11€_by_which_the mt estate excaeds $250,000 and does not Jexceed $450;600; - · _` 9 per ceptum of the amount by which the het mate exceeds · $450,000 and does not exceed $756,000; ‘ · . [ _ ‘12 per `mntum ot the amount by which the net estate exceeds $750,000 and does not gxcead ‘$1;000,000`: . _ 0 215. per ceutum of the amount by which the niet estate exceeds $1,000,000aud does not exceed $1.®0.000;;_ . \ 18 `pet centum of- the gm`9uut by which th; mt estate exceeds . $1,500,000 and dbes not exceed &,008,000:‘ , 21.per centum ot the émmmfby whicH tim egate exceeds
and does not `cxceéd $3,000,000: · \ ‘ ‘
24 per, centum 01; the ammmt by which the net estate exceeds $3,000,000 and dean not uceed $4,000Q000: _ ·· ` ‘ 21 per` céntuq ot the amount bywhich the net bstgte exceeds ` $4,000,000 and doa uctpxcem $5§000,000:~ E; ` · T 30 pexycentum 0; the amqnmt by them; mate exceeds 1 $5,000,000*and does mt fexcmd $8,000,000; ·
- 35 percmtum at th; dmsmt by which the net mate exceeds
$8,000,000 and dau not gxcwd $10,000,000; _~ ~ . ‘ 40 ber ceptum of the amount bi which the net mug exceeds $10,000,000; (Jam 2. 1924, 4.01 p. m., cg. 234, Q 30;t(•), 43 Stat.308.). Q -` " ‘ 10943. Taxes paid -St•t•0•, er District of C¢1u¤b§a sx 'qadits; Hh.itnti¢n.é·-·—·Tm· tux` . imposed by section 1®2`_0f this title wall in credited p·ith‘ the amount at my estate, in- - heritnncn, lwncy, or juccmim taxa actually paid tc ani! State or Territory or the District ot Cblumbia, in` respect at `smy ._ I pmpmy_mumg¤ m cm gm ¤¤•¢¤. me cmd}; eumyea by ` th1¤ pacman shsllnot excgw 5 pc: ceatum at the " by ntdsectiun. (J¤m12,_1024, 4.01 p. sn.; c. ¤4, 5 301 (b), 43- Stat; $08.) ° A ° `
