§2207B — Title 26 Internal Revenue Code | U.S. Code

Summary

Lets the estate get back part of the estate tax from anyone who receives property that was counted in the decedent’s estate because of section 2036. The estate can claim the same fraction of the total tax that the property’s value is of the whole taxable estate. If the decedent’s will or a revocable trust clearly says the estate gives up that right for some property, the estate cannot recover for that property. If more than one person gets the property, the estate can go after each person. Penalties and interest tied to those extra taxes follow the same rules. The estate cannot recover anything from a trust that is covered by section 664.

Title 26, §2207B

Internal Revenue Code — Source: USLM XML via OLRC

(a)(1)If any part of the gross estate on which tax has been paid consists of the value of property included in the gross estate by reason of section 2036 (relating to transfers with retained life estate), the decedent’s estate shall be entitled to recover from the person receiving the property the amount which bears the same ratio to the total tax under this chapter which has been paid as—

(A)the value of such property, bears to

(B)the taxable estate.

(2)Paragraph (1) shall not apply with respect to any property to the extent that the decedent in his will (or a revocable trust) specifically indicates an intent to waive any right of recovery under this subchapter with respect to such property.

(b)For purposes of this section, if there is more than 1 person receiving the property, the right of recovery shall be against each such person.

(c)In the case of penalties and interest attributable to the additional taxes described in subsection (a), rules similar to the rules of subsections (a) and (b) shall apply.

(d)No person shall be entitled to recover any amount by reason of this section from a trust to which section 664 applies (determined without regard to this section).

Notes & Related Subsidiaries

Editorial Notes

Amendments

1997—Subsec. (a)(2). Pub. L. 105–34 amended heading and text of par. (2) generally. Prior to amendment, text read as follows: “Paragraph (1) shall not apply if the decedent otherwise directs in a provision of his will (or a revocable trust) specifically referring to this section.” 1990—Subsec. (b). Pub. L. 101–508, § 11601(b)(1)(A), redesignated former subsec. (c) as (b) and struck out former subsec. (b) which read as follows: “If for any calendar year tax is paid under chapter 12 with respect to any person by reason of property treated as transferred by such person under section 2036(c)(4), such person shall be entitled to recover from the original transferee (as defined in section 2036(c)(4)(C)(ii)) the amount which bears the same ratio to the total tax for such year under chapter 12 as— “(1) the value of such property for purposes of chapter 12, bears to “(2) the total amount of the taxable gifts for such year.” Subsec. (c). Pub. L. 101–508, § 11601(b)(1), redesignated subsec. (d) as (c) and substituted “subsection (a)” for “subsections (a) and (b)” and “subsections (a) and (b)” for “subsections (a), (b), and (c)”. Former subsec. (c) redesignated (b). Subsecs. (d), (e). Pub. L. 101–508, § 11601(b)(1)(A), redesignated subsecs. (d) and (e) as (c) and (d), respectively. Former subsec. (d) redesignated (c).

Statutory Notes and Related Subsidiaries

Effective Date

of 1997 AmendmentAmendment by Pub. L. 105–34 applicable with respect to estates of decedents dying after Aug. 5, 1997, see section 1302(c) of Pub. L. 105–34, set out as a note under section 2207A of this title.

Effective Date

of 1990 AmendmentAmendment by Pub. L. 101–508 applicable in the case of property transferred after Dec. 17, 1987, see section 11601(c) of Pub. L. 101–508, set out as a note under section 2036 of this title.

Effective Date

Section effective as if included in provisions of Revenue Act of 1987, Pub. L. 100–203, title X, except that if an amount is included in the gross estate of a decedent under section 2036 of this title other than solely by reason of section 2036(c) of this title, section applicable to such amount only with respect to property transferred after Nov. 10, 1988, see section 3031(h)(1), (3) of Pub. L. 100–647, set out as an

Effective Date

of 1988 Amendment note under section 2036 of this title.

§2207B Right of recovery where decedent retained interest

Summary

Title 26, §2207B

Notes & Related Subsidiaries

Editorial Notes

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Effective Date

Effective Date

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