value at the time of his death of value at the time of his death of Sec. 862. Property within the United States. For the purpose of this subchapter Sec. 862. Property within the For the purpose of this sub- Sec. 862. (a) Stock in domestic Sec. 862. (a) Stock in domestic corporation.-Stock in a domestic corporation.-Stock in a domestic corporation owned and held by a corporation owned and held by a nonresident not a citizen of the nonresident not a citizen of the United States shall be deemed United States shall be deemed property within the United States; property within the United States; and and Sec. 862. (b) Revocable trans- Sec. 862. (b) Revocable transfers and transfers in contempla- fers and transfers in contemplation of death.-Any property of tion of death.-Any property of which the decedent has made a which the decedent has made a transfer, by trust or otherwise, within the meaning of section 811 (c) or (d), shall be deemed to be situated in the United States, if so situated either at the time of the transfer, or at the time of the decedent's death. Sec. 863. Property without the United States. The following items shall not, for the purpose of this subchapter, be deemed property within the United States: Sec. 863. (a) Proceeds of life insurance. The amount receivable as insurance upon the life of a nonresident not a citizen of the United States; and transfer, by trust or otherwise, Sec. 863. Property without the The following items shall not, Sec. 863. (a) Proceeds of life insurance.-The amount receivable as insurance upon the life of a nonresident not a citizen of the United States; and Sec. 863. (b) Bank deposits.— Sec. 863. (b) Bank deposits.— Any moneys deposited with any Any moneys deposited with any person carrying on the banking person carrying on the banking business, by or for a nonresident business, by or for a nonresident not a citizen of the United States not a citizen of the United States who was not engaged in business who was not engaged in business in the United States at the time in the United States at the time of his death. of his death. Sec. 864. (a) (1) Returns by ex- Sec. 864. (a) (1) Returns by executor. In the case of the estate ecutor.-In the case of the estate of every nonresident not a citizen of every nonresident not a citizen of the United States any part of of the United States any part of whose gross estate is situated in whose gross estate is situated in the United States, the executor the United States, the executor shall make a return under oath in shall make a return under oath in duplicate, setting forth (1) the duplicate, setting forth (1) the value of that part of the gross value of that part of the gross Estates of Decedents Dying on or before Feb. 10, 1939 Sec. 303. (d). See p. 506, Eighth Edition. Sec. 303. (e). See p. 508, Eighth Edition. Estates of Decedents 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. duplicate, setting forth (A) the estate of the decedent situated in Sec. 864. (a) (2) Returns by Sec. 864. (a) (2) Returns by Sec. 864. (a) (2) Returns by beneficiaries. If the executor is beneficiaries.-If the executor is beneficiaries. If the executor is unable to make a complete return unable to make a complete return unable to make a complete return as to any part of the gross estate as to any part of the gross estate as to any part of the gross estate of the decedent, he shall include of the decedent, he shall include of the decedent, he shall include in his return a description of such part and the name of every person holding a legal or beneficial interest therein, and upon notice from the collector such person shall in like manner make a return as to such part of the gross estate. Sec. 864. (b) Time for filing.The return required of the executor under subsection (a) shall be filed at such times and in such manner as may be required by regulations made pursuant to law. Sec. 864. (c) Place for filing.The return required of the executor under subsection (a) shall be filed with the collector of the district in which is situated the part of the gross estate of the decedent in the United States, or, if such part of the gross estate is situated in more than one district, then the collector of such district as may be designated by the Commissioner. Sec. 864 (a) (1), I. R. C.. supra, amended by Sec. 412 (c), R. A. of 1942, to read as above. Sec. 401 of said Act makes amendment applicable to estates of decedents dying after Oct. 21, 1942. For Sec. 864 (a) (1), I. R. C., before amendment, see 1942 column. Sec. 865. Cross reference. For missionaries in foreign service, see section 850. in his return a description of such Sec. 864. (b) Time for filing.- in his return a description of such part and the name of every person holding a legal or beneficial interest therein, and upon notice from the collector such person shall in like manner make a return as to such part of the gross estate. Sec. 864. (b) Time for filing.The return required of the executor under subsection (a) shall be filed at such times and in such manner as may be required by regulations made pursuant to law. Sec. 864. (c) Place for filing.— Sec. 864. (c) Place for filing.— The return required of the execu-The return required of the execu tor under subsection (a) shall be tor under subsection (a) shall be filed with the collector of the dis- filed with the collector of the district in which is situated the part of the gross estate of the decedent in the United States, or, if such part of the gross estate is situated in more than one district, then the collector of such district as may be designated by the Com missioner. Sec. 864 (a) (1), I. R. C., supra, amended by Sec. 412 (c), R. A. of 1942, by omitting language in stricken through type and adding language in italics. Sec. 401 of said Act makes amendment applicable to estates of decedents dying after Oct. 21, 1942. Sec. 865. Cross reference. For missionaries in foreign service, see section 850. trict in which is situated the part of the gross estate of the decedent in the United States, or, if such part of the gross estate is situated in more than one district, then the collector of such district as may be designated by the Com missioner. Sec. 865. Cross reference. For missionaries in foreign service, see section 850. PART IV-SUPPLEMENTAL PROVISIONS PART IV-SUPPLEMENTAL PROVISIONS PART IV-SUPPLEMENTAL PROVISIONS Supplement A-Assessment and Collection of Deficiencies Sec. 870. Definition of deficiency. As used in this subchapter in respect of the tax imposed by this Supplement A-Assessment and Sec. 870. Definition of deficiency. Supplement A-Assessment and Sec. 870. Definition of deficiency. As used in this subchapter in respect of the tax imposed by this estate of the decedent situated in estate of the decedent situated in Estates of Decedents Sec. 864. (a) (2) Returns by Sec. 864. (a) (2) Returns by beneficiaries.-If the executor is beneficiaries.-If the executor is unable to make a complete return unable to make a complete return as to any part of the gross estate as to any part of the gross estate of the decedent, he shall include of the decedent, he shall include in his return a description of such in his return a description of such part and the name of every person part and the name of every person holding a legal or beneficial inter- holding a legal or beneficial interest therein, and upon notice from est therein, and upon notice from the collector such person shall in the collector such person shall, in like manner make a return as to like manner make a return as to such part of the gross estate. such part of the gross estate. Sec. 864. (b) Time for filing.— The return required of the executor under subsection (a) shall be filed at such times and in such manner as may be required by regulations made pursuant to law. Sec. 864. (c) Place for filing.— The return required of the executor under subsection (a) shall be filed with the collector of the district in which is situated the part of the gross estate of the decedent in the United States, or, if such part of the gross estate is situated in more than one district, then the collector of such district as may be designated by the Commissioner. Sec. 864. (b) Time for filing.The return required of the executor under subsection (a) shall be filed at such times and in such manner as may be required by regulations made pursuant to law. Sec. 864. (c) Place for filing.— The return required of the executor under subsection (a) shall be filed with the collector of the district in which is situated the part of the gross estate of the decedent in the United States, or, if such part of the gross estate is situated in more than one district, then the collector of such district as may be designated, by the Commissioner. PART IV-SUPPLEMENTAL PROVISIONS PART IV-SUPPLEMENTAL PROVISIONS Supplement A-Assessment and Collection of Deficiencies Sec. 870. Definition of deficiency. As used in this subchapter in respect of the tax imposed by this Supplement A-Assessment and Sec. 307. See p. 515, Eighth Edition. Estates of Decedents Estates of Decedents Estates of Decedents subchapter the term "deficiency" subchapter the term "deficiency" subchapter the term "deficiency" means- means means Sec. 870. (1) The amount by which the tax imposed by this subchapter exceeds the amount shown as the tax by the executor upon Sec. 870. (1) The amount by Sec. 870. (1) The amount by which the tax imposed by this sub- which the tax imposed by this subchapter exceeds the amount shown chapter exceeds the amount shown as the tax by the executor upon as the tax by the executor upon his return; but the amount so his return; but the amount SO his return; but the amount so shown on the return shall first be shown on the return shall first be shown on the return shall first be increased by the amounts pre- increased by the amounts pre- increased by the amounts previously assessed (or collected with- viously assessed (or collected with- viously assessed (or collected without assessment) as a deficiency, out assessment) as a deficiency, out assessment) as a deficiency. and decreased by the amounts pre- and decreased by the amounts pre- and decreased by the amounts previously abated, refunded, or other-viously abated, refunded, or other-viously abated, refunded, or otherwise repaid in respect of such tax; wise repaid in respect of such tax; wise repaid in respect of such tax; Sec. 870. (2) If no amount is or Sec. 870. (2) If no amount is Sec. 870. (2) If no amount is shown as the tax by the executor shown as the tax by the executor shown as the tax by the executor upon his return, or if no return is upon his return, or if no return is upon his return, or if no return is made by the executor, then the made by the executor, then the made by the executor, then the amount by which the tax exceeds amount by which the tax exceeds amount by which the tax exceeds the amounts previously assessed the amounts previously assessed the amounts previously assessed (or collected without assessment) (or collected without assessment) (or collected without assessment) as a deficiency; but such amounts as a deficiency; but such amounts as a deficiency; but such amounts previously assessed, or collected previously assessed, or collected previously assessed, or collected without assessment, shall first be without assessment, shall first be without assessment, shall first be decreased by the amounts pre- decreased by the amounts pre- decreased by the amounts previously abated, refunded, or other-viously abated, refunded, or other-viously abated, refunded, or other wise repaid in respect of such tax. wise repaid in respect of such tax. wise repaid in respect of such tax. 90 Sec. 871. Procedure in general. Sec. 871. Procedure in general. Sec. 871. Procedure in general. Sec. 871. (a) (1) Petition to Sec. 871. (a) (1) Petition to Sec. 871. (a) (1) Petition to Board of Tax Appeals. If the Board of Tax Appeals. If the Board of Tax Appeals. If the Commissioner determines that there Commissioner determines that there Commissioner determines that there is a deficiency in respect of the tax is a deficiency in respect of the tax is a deficiency in respect of the tax imposed by this subchapter, the imposed by this subchapter, the imposed by this subchapter, the Commissioner is authorized to send Commissioner is authorized to send Commissioner is authorized to send notice of such deficiency to the ex-notice of such deficiency to the ex-notice of such deficiency to the executor by registered mail. Within ecutor by registered mail. Within ecutor by registered mail. Within days after such notice is 90 days after such notice is 90 days after such notice is mailed (not counting Sunday or a mailed (not counting Sunday or a mailed (not counting Sunday or a legal holiday in the District of legal holiday in the District of legal holiday in the District of Columbia as the ninetieth day), Columbia as the ninetieth day), Columbia as the ninetieth day). the executor may file a petition the executor may file a petition the executor may file a petition with the Board of Tax Appeals with the Board of Tax Appeals with the Board of Tax Appeals for a redetermination of the de- for a redetermination of the de- for a redetermination of the deficiency. No assessment of a de- ficiency. No assessment of a de- ficiency. No assessment of a deficiency in respect of the tax im- ficiency in respect of the tax im- ficiency in respect of the tax imposed by this subchapter and no posed by this subchapter and no posed by this subchapter and no distraint or proceeding in court distraint or proceeding in court distraint or proceeding in court for its collection shall be made, for its collection shall be made, for its collection shall be made. begun, or prosecuted until such begun, or prosecuted until such begun, or prosecuted until such notice has been mailed to the ex-notice has been mailed to the ex-notice has been mailed to the executor, nor until the expiration of ecutor, nor until the expiration of ecutor, nor until the expiration of such 90-day period, nor, if a peti- such 90-day period, nor, if a peti- such 90-day period, nor, if a petition has been filed with the tion has been filed with the Board, until the decision of the Board, until the decision of the Board has become final. Notwith- Board has become final. Notwithstanding the provisions of section standing the provisions of section 3653 (a) the making of such as- 3653 (a) the making of such assessment or the beginning of such sessment or the beginning of such proceeding or distraint during the proceeding or distraint during the time such prohibition is in force time such prohibition is in force tion has been filed with the Board, until the decision of the Board has become final. Notwithstanding the provisions of section 3653 (a) the making of such assessment or the beginning of such proceeding or distraint during the time such prohibition is in force subchapter the term "deficiency" subchapter the term "deficiency” Sec. 870. (1) The amount by Sec. 870. (1) The amount by which the tax imposed by this sub- which the tax imposed by this subchapter exceeds the amount shown chapter exceeds the amount shown as the tax by the executor upon as the tax by the executor upon his return; but the amount so his return; but the amount so shown on the return shall first be shown on the return shall first be increased by the amounts preincreased by the amounts previously assessed (or collected with- viously assessed (or collected without assessment) as a deficiency, out assessment) as a deficiency, and decreased by the amounts pre- and decreased by the amounts previously abated, refunded, or other-viously abated, refunded, or otherwise repaid in respect of such tax; wise repaid in respect of such tax; Sec. 870. (2) If no amount is Sec. 870. (2) If no amount is shown as the tax by the executor shown as the tax by the executor upon his return, or if no return is upon his return, or if no return is made by the executor, then the made by the executor, then the amount by which the tax exceeds amount by which the tax exceeds the amounts previously assessed the amounts previously assessed (or collected without assessment) (or collected without assessment) as a deficiency; but such amounts as a deficiency; but such amounts previously assessed, or collected previously assessed, or collected without assessment, shall first be without assessment, shall first be decreased by the amounts pre- decreased by the amounts previously abated, refunded, or other-viously abated, refunded, or otherwise repaid in respect of such tax. wise repaid in respect of such tax. Sec. 871. (a) (1) Petition to Sec. 871. (a) (1) Petition to Board of Tax Appeals.—If the Board of Tax Appeals.-If the ComCommissioner determines that there missioner determines that there is is a deficiency in respect of the tax a deficiency in respect of the tax imposed by this subchapter, the imposed by this subchapter, the Commissioner is authorized to send Commissioner is authorized to send notice of such deficiency to the ex- notice of such deficiency to the executor by registered mail. Within ecutor by registered mail. Within 90 days after such notice is 90 days after such notice is mailed (not counting Sunday or a mailed (not counting Sunday or a legal holiday in the District of legal holiday in the District of Columbia as the ninetieth day), Columbia as the ninetieth day), the executor may file a petition the executor may file a petition with the Board of Tax Appeals with the Board of Tax Appeals for a redetermination of the de- for a redetermination of the deficiency. No assessment of a de- ficiency. No assessment of a deficiency in respect of the tax im- ficiency in respect of the tax imposed by this subchapter and no posed by this subchapter and no distraint or proceeding in court distraint or proceeding in court for its collection shall be made, for its collection shall be made, begun, or prosecuted until such begun, or prosecuted until such notice has been mailed to the ex- notice has been mailed to the executor, nor until the expiration of ecutor, nor until the expiration of such 90-day period, nor, if a peti- such 90-day period, nor, if a petition has been filed with the tion has been filed with the Board, Board, until the decision of the until the decision of the Board has Board has become final. Notwith- become final. Notwithstanding the standing the provisions of section provisions of section 3653 (a) the 3653 (a) the making of such as- making of such assessment or the sessment or the beginning of such beginning of such proceeding or proceeding or distraint during the distraint during the time such protime such prohibition is in force hibition is in force may be en Estates of Decedents Dying on or before Feb. 10, 1939 Sec. 307. (1). See p. 515, Eighth Edition. Sec. 307. (2). See p. 515, Eighth Edition. Sec. 308. (a). See p. 515, Eighth Edition. |