Sec. 526. (b) Period of limita Sec. 1025. (b) Period of limita- Sec. 1025. (b) Period of limitation. The period of limitation for tion.-The period of limitation for tion. assessment of any such liability of assessment of any such liability of a transferee or fiduciary shall be a transferee or fiduciary shall be as follows: as follows: Sec. 1025. (b) (1) Within one year after the expiration of the period of limitation for assessment against the donor. Sec. 1025. (b) (2) If a court proceeding against the donor for the collection of the tax has been begun within the period provided in paragraph (1), then within one year after return of execution in such proceeding. Sec. 1025. (b) (1) Within one year after the expiration of the period of limitation for assessment against the donor. Sec. 1025. (b) (2) If a court proceeding against the donor for the collection of the tax has been begun within the period provided in paragraph (1), then within one year after return of execution in such proceeding. Sec. 1025. (c) Period for assess- Sec. 1025. (c) Period for assessment against donor. For the pur-ment against donor.-For the purposes of this section, if the donor poses of this section, if the donor is deceased, the period of limitation is deceased, the period of limitation for assessment against the donor for assessment against the donor shall be the period that would be in effect had the death not occurred. shall be the period that would be in sus See p. 554, Eighth Edition. Sec. 526. (b) (1). See p. 554, Eighth Edition. Sec. 526. (b) (2). See p. 554, Eighth Edition. Sec. 526. (c) Period for assessment against donor. See p. 554, Eighth Edition. Sec. 526. (d) Suspension of runof statute of limitations. Sec. 1025. (d) Suspension of Sec. 1025. (d) Suspension of running of statute of limitations.The running of the statute of limitations upon the assessment of the liability of a transferee or fiduciary shall, after the mailing of the notice under section 1012 (a) to the transferee or fiduciary, be pended for the period during which Commissioner is prohibited the from making the assessment in respect of the liability of the transferee or fiduciary (and in any event, if a proceeding in respect of the liability is placed on the docket of the Board, until the decision of the Board becomes final), and for 60 days thereafter. Sec. 1025. (e) Prohibition of Sec. 1025. (e) Prohibition of suits to restrain enforcement of suits to restrain enforcement of liability of transferee or fiduciary. liability of transferee or fiduciary. -No suit shall be maintained in -No suit shall be maintained in any court for the purpose of re- any court for the purpose of restraining the assessment or collec- straining the assessment or collection of (1) the amount of the lia- tion of (1) the amount of the liability, at law or in equity, of a bility, at law or in equity, of a transferee of property of a donor transferee of property of a donor in respect of any gift tax, or (2) in respect of any gift tax, or (2) See p. 554, Eighth Edition. Sec. 526. (e) Prohibition of suits to restrain enforcement of liability of transferee or fiduciary. See p. 554, Eighth Edition. Calendar Year 1944 Calendar Year 1943 Calendar Year 1942 the amount of the liability of a the amount of the liability of a the amount of the liability of a fiduciary under section 3467 of the fiduciary under section 3467 of the fiduciary under section 3467 of the Revised Statutes (U. S. C., Title Revised Statutes (U. S. C., Title Revised Statutes (U. S. C., Title 31, § 192) in respect of any such 31, § 192) in respect of any such 31, § 192) in respect of any such tax. tax. tax. Sec. 1025. (f) Definition of Sec. 1025. (f) Definition of Sec. 1025. (f) Definition of "transferee.'-As used in this "transferee."- -As used in this "transferee."-As used in this section the term "transferee" in- section the term "transferee" in- section the term "transferee" includes donee, heir, legatee, devisee, cludes donee, heir, legatee, devisee, cludes donee, heir, legatee, devisee, and distributee. and distributee. and distributee. Sec. 1025. (g) Address for no- Sec. 1025. (g) Address for no- Sec. 1025. (g) Address for notice of liability. In the absence tice of liability. In the absence tice of liability. In the absence of notice to the Commissioner un- of notice to the Commissioner un- of notice to the Commissioner under section 1026 (b) of the exist- der section 1026 (b) of the exist- der section 1026 (b) of the existence of a fiduciary relationship, ence of a fiduciary relationship, ence of a fiduciary relationship, notice of liability enforceable un- notice of liability enforceable un- notice of liability enforceable under this section in respect of a tax der this section in respect of a tax der this section in respect of a tax imposed by this chapter, if mailed imposed by this chapter, if mailed imposed by this chapter, if mailed to the person subject to the liability to the person subject to the liability at his last known address, shall be at his last known address, shall be sufficient for the purposes of this sufficient for the purposes of this chapter even if such person is deceased, or is under a legal disabil- chapter even if such person is deity, or, in the case of a corporation, ity, or, in the case of a corporation, ceased, or is under a legal disabil has terminated its existence. to the person subject to the liability at his last known address, shall be sufficient for the purposes of this chapter even if such person is deceased, or is under a legal disability, or, in the case of a corporation, has terminated its existence. Sec. 1026. Notice of fiduciary relationship. Sec. 1026. Notice of fiduciary relationship. has terminated its existence. Sec. 1026. Notice of fiduciary relationship. Sec. 1026. (a) Fiduciary of Sec. 1026. (a) Fiduciary of Sec. 1026. (a) Fiduciary of donor. Upon notice to the Com- donor.-Upon notice to the Com- donor.-Upon notice to the Commissioner that any person is acting missioner that any person is acting missioner that any person is acting in a fiduciary capacity such fidu- in a fiduciary capacity such fidu- in a fiduciary capacity such fiduciary shall assume the powers, ciary shall assume the powers, ciary shall assume the powers, rights, duties, and privileges of the rights, duties, and privileges of the rights, duties, and privileges of the donor in respect of a tax imposed donor in respect of a tax imposed donor in respect of a tax imposed by this chapter (except as other- by this chapter (except as other- by this chapter (except as other wise specifically provided and ex- wise specifically provided and ex-wise specifically provided and except that the tax shall be collected cept that the tax shall be collected cept that the tax shall be collected from the estate of the donor), until from the estate of the donor), until from the estate of the donor), until notice is given that the fiduciary notice is given that the fiduciary notice is given that the fiduciary capacity has terminated. capacity has terminated. capacity has terminated. Sec. 1026. (b) Fiduciary of Sec. 1026. (b) Fiduciary of Sec. 1026. (b) Fiduciary of transferee. Upon notice to the transferee.-Upon notice to the transferee. Upon notice to the Commissioner that any person is Commissioner that any person is Commissioner that any person is acting in a fiduciary capacity for a acting in a fiduciary capacity for a acting in a fiduciary capacity for a person subject to the liability spec-person subject to the liability spec- person subject to the liability spee ified in section 1025, the fiduciary ified in section 1025, the fiduciary ified in section 1025, the fiduciary shall assume, on behalf of such per- shall assume, on behalf of such per- shall assume, on behalf of such person, the powers, rights, duties, and son, the powers, rights, duties, and son, the powers, rights, duties, and privileges of such person under privileges of such person under privileges of such person under such section (except that the lia- such section (except that the lia- such section (except that the liability shall be collected from the bility shall be collected from the bility shall be collected from the estate of such person), until notice estate of such person), until notice estate of such person), until notice is given that the fiduciary capacity is given that the fiduciary capacity is given that the fiduciary capacity has terminated. Sec. 1026. (c) Manner of notice. -Notice under subsection (a) or (b) shall be given in accordance with regulations prescribed by the Commissioner with the approval of the Secretary. has terminated. Sec. 1026. (c) Manner of notice. Notice under subsection (a) or (b) shall be given in accordance with regulations prescribed by the Commissioner with the approval of the Secretary. has terminated. Sec. 1026. (c) Manner of notice. -Notice under subsection (a) or (b) shall be given in accordance with regulations prescribed by the Commissioner with the approval of the Secretary. 526. Sec. 1025. Sec. (f) Definition of Sec. 1025. (f) Definition of "transferee.'-As used in this "transferee."-As used in this "transferee.'' section the term "transferee" in- section the term "transferee" includes donee, heir, legatee, devisee, cludes donee, heir, legatee, devisee, and distributee. and distributee. See p. 554, Eighth Edition. Sec. 526. (g) Address for notice See p. 554, Eighth Edition. Sec. 1025. (g) Address for no- Sec. 1025. (g) Address for notice of liability. In the absence tice of liability.-In the absence of liability. of notice to the Commissioner un- of notice to the Commissioner under section 1026 (b) of the exist- der section 1026 (b) of the existence of a fiduciary relationship, ence of a fiduciary relationship, notice of liability enforceable un-notice of liability enforceable under this section in respect of a tax der this section in respect of a tax imposed by this chapter, if mailed imposed by this chapter, if mailed to the person subject to the liability to the person subject to the liability at his last known address, shall be a his last known address, shall be sufficient for the purposes of this sufficient for the purposes of this chapter even if such person is de- chapter even if such person is deceased, or is under a legal disabil- ceased, or is under a legal disability, ity, or, in the case of a corporation, or, in the case of a corporation, has terminated its existence. has terminated its existence. Sec. 1026. Notice of fiduciary relationship. Sec. 1026. Notice of fiduciary relationship. of Sec. 1026. (a) Fiduciary Sec. 1026. (a) Fiduciary of donor. Upon notice to the Com- donor.-Upon notice to the Commissioner that any person is acting missioner that any person is acting in a fiduciary capacity such fidu- in a fiduciary capacity such fiduassume the powers, ciary shall assume the powers, ciary shall rights, duties, and privileges of the rights, duties, and privileges of the donor in respect of a tax imposed donor in respect of a tax imposed by this chapter (except as other- by this chapter (except as otherwise specifically provided and ex-wise specifically provided and except that the tax shall be collected cept that the tax shall be collected from the estate of the donor), until from the estate of the donor), until notice is given that the fiduciary notice is given that the fiduciary capacity has terminated. capacity has terminated. Sec. 1026. (b) Fiduciary of Sec. 1026. (b) Fiduciary of transferee.-Upon notice to the transferee.-Upon notice to the Commissioner that any person is Commissioner that any person is acting in a fiduciary capacity for a acting in a fiduciary capacity for a person subject to the liability spec- person subject to the liability specified in section 1025, the fiduciary ified in section 1025, the fiduciary shall assume, on behalf of such per- shall assume, on behalf of such person, the powers, rights, duties, and son, the powers, rights, duties, and privileges of such person under privileges of such person under such section (except that the lia- such section (except that the liability shall be collected from the bility shall be collected from the estate of such person), until notice estate of such person), until notice is given that the fiduciary capacity is given that the fiduciary capacity has terminated. has terminated. Sec. 1026. (c) Manner of notice. -Notice under subsection (a) or (b) shall be given in accordance with regulations prescribed by the Commissioner with the approval of the Secretary. Sec. 1026. (c) Manner of notice. Notice under subsection (a) or (b) shall be given in accordance with regulations prescribed by the Commissioner with the approval of the Secretary. Sec. 527. Notice of fiduciary relationship. Sec. 527. (a) Fiduciary of donor. See p. 554, Eighth Edition. Sec. 527. (b) Fiduciary of transferee. See p. 554, Eighth Edition. Sec. 527. (c) Manner of notice. See p. 554, Eighth Edition. Calendar Year 1944 Calendar Year 1943 Calendar Year 1942 Sec. 1027. Refunds and credits. Sec. 1027. Refunds and credits. Sec. 1027. Refunds and credits. Sec. 1027. (a) Authorization.- Sec. 1027. (a) Authorization.— Sec. 1027. (a) Authorization.— Where there has been an overpay- Where there has been an overpay- Where there has been an overpayment of any tax imposed by this ment of any tax imposed by this ment of any tax imposed by this chapter, the amount of such over- chapter, the amount of such over- chapter, the amount of such overpayment shall be credited against payment shall be credited against payment shall be credited against any gift tax then due from the tax- any gift tax then due from the tax- any gift tax then due from the taxpayer, and any balance shall be re- payer, and any balance shall be re- payer, and any balance shall be refunded immediately to the tax-funded immediately to the tax-funded immediately to the tax payer. payer. Sec. 1027. (b) Limitation on al- Sec. 1027. (b) Limitation on allowance.lowance. payer. Sec. 1027. (b) Limitation on allowance. Sec. 1027. (b) (1) Period of lim- Sec. 1027. (b) (1) Period of limitation. No such credit or refund itation.-No such credit or refund itation.-No such credit or refund shall be allowed or made after three years from the time the tax was paid, unless before the expiration of such period a claim therefor is filed by the taxpayer. shall be allowed or made after three years from the time the tax was paid, unless before the expiration of such period a claim therefor is filed by the taxpayer. Sec. 1027. (b) (2) Limit on amount of credit or refund. The amount of the credit or refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the credit or refund. Sec. 1027. (b) (2) Limit on amount of credit or refund.-The amount of the credit or refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the credit or refund. Sec. 1027. (b) (1) Period of limshall be allowed or made after three years from the time the tax was paid, unless before the expiration of such period a claim therefor is filed by the taxpayer. Sec. 1027. (b) (2) Limit on amount of credit or refund. The amount of the credit or refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the credit or refund. Sec. 1027. (c) Effect of petition Sec. 1027. (c) Effect of petition Sec. 1027. (c) Effect of petition to Board. If the Commissioner has to Board.-If the Commissioner has to Board.-If the Commissioner has mailed to the taxpayer a notice of mailed to the taxpayer a notice of mailed to the taxpayer a notice of deficiency under section 1012 (a) deficiency under section 1012 (a) deficiency under section 1012 (a) and if the taxpayer files a petition and if the taxpayer files a petition with the Board of Tax Appeals with the Board of Tax Appeals within the time prescribed in such subsection, no credit or refund in respect of the tax for the calendar year in respect of which the Commissioner has determined the defi- missioner has determined the defi- missioner has determined the defi ciency shall be allowed or made and no suit by the taxpayer for the recovery of any part of such tax shall be instituted in any court except Sec. 1027. (c) (1) As to overpayments determined by a decision of the Board which has become final; and within the time prescribed in such ciency shall be allowed or made and if the taxpayer files a petition with the Board of Tax Appeals within the time prescribed in such subsection, no credit or refund in respect of the tax for the calendar year in respect of which the Com ciency shall be allowed or made and no suit by the taxpayer for the recovery of any part of such tax shall be instituted in any court except Sec. 1027. (c) (1) As to over- Sec. 1027. (c) (1) As to overpayments determined by a decision payments determined by a decision of the Board which has become of the Board which has become final; and final; and Sec. 1027. (c) (2) As to any Sec. 1027. (c) (2) As to any Sec. 1027. (c) (2) As to any amount collected in excess of an amount collected in excess of an amount collected in excess of an accordance amount amount computed in amount computed in accordance computed in accordance with the decision of the Board which has become final; and Sec. 1027. (c) (3) As to any Sec. 1027. (c) (3) As to any Sec. 1027. (c) (3) As to any amount collected after the period amount collected after the period amount collected after the period of limitation upon the beginning of limitation upon the beginning of limitation upon the beginning of distraint or a proceeding in of distraint or a proceeding in of distraint or a proceeding in court for collection has expired; court for collection has expired; court for collection has expired; 0 Sec. 1027. Refunds and credits. Sec. 1027. Refunds and credits. Sec. 1027. (a) Authorization.- Sec. 1027. (a) Authorization.— Where there has been an overpay- Where there has been an overpayment of any tax imposed by this ment of any tax imposed by this chapter, the amount of such over- chapter, the amount of such overpayment shall be credited against payment shall be credited against any gift tax then due from the tax- any gift tax then due from the taxpayer, and any balance shall be re- payer, and any balance shall be refunded immediately to the tax-funded immediately to the taxpayer. Sec. 1027. (b) Limitation on allowance. Sec. 1027. (b) (1) Period of limitation. No such credit or refund shall be allowed or made after three years from the time the tax was paid, unless before the expiration of such period a claim therefor is filed by the taxpayer. Sec. 1027. (b) (2) Limit on amount of credit or refund. The amount of the credit or refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the credit or refund. Sec. 1027. (c) Effect of petition to Board. If the Commissioner has mailed to the taxpayer a notice of deficiency under section 1012 (a) and if the taxpayer files a petition with the Board of Tax Appeals within the time prescribed in such subsection, no credit or refund in respect of the tax for the calendar year in respect of which the Commissioner has determined the deficiency shall be allowed or made and no suit by the taxpayer for the recovery of any part of such tax shall be instituted in any court except payer. Sec. 1027. (b) Limitation on allowance. Sec. 1027. (b) (1) Period of limitation.-No such credit or refund shall be allowed or made after three years from the time the tax was paid, unless before the expiration of such period a claim therefor is filed by the taxpayer Calendar Years before 1940 Sec. 528. Refunds and credits. Sec. 528. (b) Limitation on allowance. Sec. 528. (b) (1) Period of limitation. See p. 554, Eighth Edition. See p. 555, Eighth Edition. Sec. 1027. (b) (2) Limit on Sec. 528. (b) (2) Limit on amount of credit or refund.-The amount of credit or refund. amount of the credit or refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the credit or refund. Sec. 528. (c) Effect of petition See p. 555, Eighth Edition. Sec. 1027. (c) Effect of petition Sec. 1027. (c) (1) As to over- final; and Sec. 1027. (c) (2) As to any Sec. 1027. (c) (2) As to any amount collected in excess of an amount collected in excess of an amount computed in accordance amount computed in accordance with the decision of the Board with the decision of the Board which has become final; and which has become final; and Sec. 1027. (c) (3) As to any Sec. 1027. (c) (3) As to any amount collected after the period amount collected after the period of limitation upon the beginning of limitation upon the beginning of distraint or a proceeding in of distraint or a proceeding in court for collection has expired; court for collection has expired; Sec. 528. (c) (1). See p. 555, Eighth Edition. Sec. 528. (c) (2). See p. 555, Eighth Edition. Sec. 528. (c) (3). See p. 555, Eighth Edition. |