77TH CONG., 2D SESS.- CH. 619-OCT. 21, 1942 SEC. 412. EXEMPTION OF ESTATES OF NONRESIDENTS NOT CITIZENS. (a) EXEMPTION. -Section 861 (a) (relating to deductions in case of estates of nonresidents not citizens) is amended by inserting at the end thereof the following new paragraph: "(4) EXEMPTION.-An exemption of $2,000." (b) TECHNICAL AMENDMENT WITH RESPECT TO PROPERTY PREVIOUSLY TAXED. -For technical amendment with respect to property previously taxed, see section 405 (c) of this Act. (c) RETURNS.-Section 864 (a) (1) (relating to returns of executors of estates of nonresidents not citizens) is amended to read as follows: "(1) RETURNS BY EXECUTOR. -In the case of the estate of every nonresident not a citizen of the United States any part of whose gross estate situated in the United States exceeds the amount of the specific exemption provided in section 861 (a) (4), the execu- tor shall make a return under oath in duplicate, setting forth (A) the value of that part of the gross estate of the decedent situated in the United States at the time of his death; (B) the deductions allowed under section 861; (C) the value of the net estate of the decedent as defined in section 861; (D) the tax paid or payable thereon; or such part of such information as may at the time be ascertainable and such supplemental data as may be necessary to establish the correct tax." SEC. 413. PERIOD FOR FILING PETITION EXTENDED IN CERTAIN CASES. (a) PERIOD ExTENDED.- Section 871 (a) (1) (relating to period for filing petition with Board of Tax Appeals) is amended by insert- ing at the end thereof the following new sentence: "If the notice is addressed to an executor outside the States of the Union and the District of Columbia, the period specified in this paragraph shall be one hundred and fifty days in lieu of ninety days." (b) EFFECaIVE DATE.- T he amendment made by this section shall be applicable with respect to notices of deficiency mailed after the date of the enactment of this Act. SEC. 414. SPECIFIC EXEMPTION. (a) AMOUNT OF EXEMPTION. -Section 935 (c) (relating to the exemption for the purposes of the additional estate tax) is amended by striking out "$40,000" and inserting in lieu thereof "$60,000". (b) TECHNICAL AMENDMENT.-The first sentence of section 826 (c) (relating to liability of life insurance beneficiaries) is amended by striking out ", in excess of $40,000,". SEC. 415. OVERPAYMENT FOUND BY BOARD. The second sentence of section 912 (relating to overpayment found by the Board of Tax Appeals) is amended by striking out "or the filing of the petition" and inserting in lieu thereof "or-the mailing of the notice of deficiency". Part II-Gift Tax SEC. 451. GIFTS TO WHICH AMENDMENTS APPLICABLE. Except as otherwise expressly provided, the amendments made by this Part shall be applicable only with respect to gifts made in the calendar year 1943, and succeeding calendar years. 53 Stat. 129. 26U.S. C. 861 (a); Supp. I, §861 (a). Ante, pp. 943, 949, 960. Ante, p. 946. 63 Stat. 131. 26U. .C.i864(a) (1). Supra. 63 Stat. 129. 26U. .C.. 861; Supp. I, §861. Ante, pp. 943, 946- 961. 53 Stat. 132. 26U. .0.1871 (a) (1). 53 Stat. 142. 26 U.S. C. 935 (c). 53 Stat. 128. 28U.S.C.i82 (c). Ani, p. 945. 53 stat. 139. 26U. .C.§912. 56 STAT.]
�
