Subtitle B – Estate and Gift Taxes
E92917
Subtitle B – Estate and Gift Taxes is the portion of U.S. federal tax law that governs the taxation of transfers of wealth at death and by gift during life.
Statements (43)
| Predicate | Object |
|---|---|
| instanceOf |
body of federal tax law
→
subtitle of the Internal Revenue Code → |
| administeredBy |
Internal Revenue Service
→
|
| appliesTo |
U.S. citizens
→
U.S. residents → certain nonresident aliens with U.S.-situated property → federal estate tax → federal gift tax → generation-skipping transfer tax → |
| codifiedIn |
Title 26 of the United States Code
→
|
| country |
United States
→
|
| defines |
adjusted taxable gifts
→
gross estate → taxable estate → taxable gifts → |
| governs |
taxation of transfers of wealth at death
→
taxation of transfers of wealth by gift during life → |
| hasComponent |
Chapter 11 – Estate Tax
→
Chapter 12 – Gift Tax → Chapter 13 – Tax on Generation-Skipping Transfers → |
| historicalContext |
enacted as part of the Internal Revenue Code of 1954 and carried into the Internal Revenue Code of 1986
→
|
| jurisdiction |
United States federal government
→
|
| language |
English
→
|
| legalSystem |
United States federal law
→
|
| partOf |
Internal Revenue Code
→
|
| policyPurpose |
to tax transfers of wealth and limit tax-free intergenerational transfers
→
|
| providesFor |
annual exclusion for gifts
→
charitable deduction for estate and gift tax → lifetime unified credit → marital deduction for estate tax → |
| regulates |
deductions and exclusions for estate and gift tax
→
taxation of certain retained interests and powers → taxation of certain transfers in contemplation of death → transfer taxes → unified credit against estate and gift tax → valuation of transferred property for transfer tax purposes → |
| relatedTo |
Subtitle A – Income Taxes
→
Subtitle F – Procedure and Administration → |
| requires |
filing of federal estate tax returns
→
filing of federal gift tax returns → |
| subjectMatter |
estate taxation
→
generation-skipping transfers → gift taxation → |
Referenced by (1)
| Subject (surface form when different) | Predicate |
|---|---|
|
Title 26 of the United States Code
→
|
contains |