The gross estate of the decedent shall be valued as of the date of his death, and shall include whatever interest he had at that time in property, real or personal, tangible or intangible: (a) which is subject to the charges against his (b) which was held jointly, or as tenants in the Gifts or trusts created in contemplation of death are also considered in respect to gross estate. Excepting only in the case of a bona fide sale for value (according to the Statute “a fair consideration in money or money's worth"), the gross estate shall include any interest therein of which the decedent has made a transfer at any time, or with respect to which he has created a trust, either in contemplation of death or intended to take effect in possession or enjoyment at or after his death. In this connection it is apparently provided by the Statute that the burden is fixed upon the representative of an estate to prove that a transfer by the decedent was not made in contemplation of death Gross Estate Defined Gifts in Contemplation of Death In Respect to Nonresidents Bonds in Estates (a) If the transfer was effected within two years prior to the decedent's death; (b) if a fair consideration was not received for such transfer, in money or money's worth; and, (c) if the transfer consisted of a material part of the decedent's property in the nature of a final distribution thereof. The provision of the Statute in relation to the transfer of property or the creation of a trust in contemplation of death appears to be so applied to a non-resident estate that such property shall be deemed to be within the United States and thus subject to the provisions of the Act if the property was physically located here either at the time of transfer or creation of the trust, or at the decedent's death. It seems to be a proper assumption from the Non-resident Statute that American corporate and municipal bonds or like obligations owned by a nonresident at the time of his death shall not be subject to tax hereunder if such bonds or other evidences of indebtedness were physically outside of the United States on the date of the decedent's death. As to bonds thus owned and physically located within the United States on the date of the decedent's death, it seems likely, although not entirely certain, that the taxes hereunder would be applicable. It is provided by the Statute that the stock of domestic corporations owned and held by a nonresident decedent shall be considered property within the United States and thus taxable hereunder. The value of the net estate of a resident decedent is determined by deducting from his gross estate as hereinbefore defined: (a) An exemption of $50,000; and, (b) Funeral expenses, administration expenses, The value of the net estate of a non-resident decedent is determined by deducting from his gross estate situated within the United States such a proportion of the deductions permitted to resident decedents noted under "b" above, as the value of the decedent's gross estate in the United States bears to the value of his gross estate wherever situated. It should be here remarked, however, that in order to have the benefit of these deductions, the representative of the estate shall include in his return to the Collector the value of the non-resident decedent's gross estate at the time of his death Stock So Held Net Estate of Resident Net Estate of Nonresident Returns By Whom Details of whether situated within or without the United States. Returns are required by the Statute in respect to the following: (a) Resident estates subject to tax hereunder; (b) Resident estates exceeding $60,000 value as to the gross estate at the time of the decedent's death; (c) Non-resident estates, any part of which is situated in the United States. Such returns as are required to be made in be- (a) Value of the gross estate at the date of (c) Value of net estate; (d) Tax paid or payable thereon. The filing of supplemental data is allowed as it is recognized that the representative of the estate may have only partial information at the time he is required to file his return. In case of inability to make a complete return as to any part of the gross estate, the representative should include in his return a description of such part of the estate and the name of every person holding a legal or beneficial interest therein. Persons holding such an interest are required to make a return thereof when so notified by the Collector of Internal Revenue. Returns shall be filed with the Collector of Internal Revenue of the district in which the decedent had his domicile at the time of his death. If such decedent was not domiciled in the United States the return shall be made to the Collector of the district in which his property in the United States is located; or, if such property is located in more than one district, then to the Collector of Internal Revenue at Baltimore, Maryland. The Treasury Department will probably rule as to the proper Collector in the case of a non-resident decedent whose sole property taxable hereunder is stock in an American corporation; the Collector at Baltimore may be chosen for this purpose. The Collector of Internal Revenue or his deputy shall make return for the estate in case no administration is granted; likewise if no return is filed, or if the return contains a false or incorrect statement of a material fact. It is provided by the Act that the Executor or other representative of the estate "within thirty days after qualifying as such, or after coming into possession of any property of the Where Filed Return by Collector Notice of Estate's |