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Electronic Code of Federal Regulations
| e-CFR data is current as of January 27, 2020
TITLE 26—Internal Revenue
CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) SUBCHAPTER B—ESTATE AND GIFT TAXES PART 25—GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954
Gift Tax
Determination of Tax Liability
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| Right of recovery of gift taxes in the case of certain marital deduction property. |
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| Donor primarily liable for tax. |
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| General definitions of “taxable gifts” and of “total amount of gifts.” |
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| Future interests in property. |
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| Transfer for the benefit of a minor. |
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| Exclusion for certain qualified transfer for tuition or medical expenses. |
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| Taxable gifts for preceding calendar periods. |
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| Determination of gifts for preceding calendar periods. |
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| Unified credit against gift tax; in general. |
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| Gifts made by a surviving spouse having a DSUE amount available. |
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Transfers
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| Cessation of donor's dominion and control. |
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| Transfers by nonresidents not citizens. |
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| Valuation of property; in general. |
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| Valuation of interest in businesses. |
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| Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests. |
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| Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end investment company. |
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| Transfers for insufficient consideration. |
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| Gifts by husband or wife to third party considered as made one-half by each. |
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| Manner and time of signifying consent. |
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| Joint and several liability for tax. |
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| Transfers under power of appointment. |
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| Powers of appointment created on or before October 21, 1942. |
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| Powers of appointment created after October 21, 1942. |
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| Tenancies by the entirety; in general. |
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| Tenancies by the entirety; transfers treated as gifts; manner of election and valuation. |
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| Termination of tenancy by the entirety; cases in which entire value of gift is determined under section 2515(b). |
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| Termination of tenancy by entirety; cases in which none, or a portion only, of value of gift is determined under section 2515(b). |
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| Certain property settlements. |
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| Transfers in settlement of support obligations. |
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| Qualified disclaimers of property; in general. |
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| Requirements for a qualified disclaimer. |
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| Disclaimer of less than an entire interest. |
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Actuarial Tables Applicable Before May 1, 2009
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| Valuation of annuities, unitrust interests, interests for life or term of years, and remainder or reversionary interests transferred before May 1, 2009. |
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Deductions
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| Dispositions of certain life estates. |
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| Charitable and similar gifts; citizens or residents. |
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| Charitable and similar gifts; nonresidents not citizens. |
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| Disallowance of charitable, etc., deductions because of “prohibited transactions” in the case of gifts made before January 1, 1970. |
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| Disallowance of charitable, etc., deductions in the case of gifts made after December 31, 1969. |
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| Transfers not exclusively for charitable, etc., purposes in the case of gifts made after July 31, 1969. |
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| Disallowance of double deduction in the case of qualified terminable interest property. |
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| Additional cross references. |
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| Gift to spouse; in general. |
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| Life estate or other terminable interest. |
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| Interest in unidentified assets. |
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| Marital deduction; life estate with power of appointment in donee spouse. |
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| Election with respect to life estate transferred to donee spouse. |
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| Special rule for charitable remainder trusts. |
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| Denial of double deduction. |
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| Disallowance of marital deduction when spouse is not a United States citizen. |
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| Treatment of spousal joint tenancy property where one spouse is not a United States citizen. |
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Deductions Prior to 1982
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| Special rule applicable to community property transferred prior to January 1, 1982. |
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Special Valuation Rules
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| Special valuation rules in the case of transfers of certain interests in corporations and partnerships. |
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| Special valuation rules for applicable retained interests. |
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| Determination of amount of gift. |
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| Accumulated qualified payments. |
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| Adjustments to mitigate double taxation. |
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| Indirect holding of interests. |
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| Special valuation rules in the case of transfers of interests in trust. |
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| Definitions and valuation rules. |
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| Certain property treated as held in trust. |
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| Personal residence trusts. |
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| Reduction in taxable gifts. |
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| Property subject to restrictive arrangements. |
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| Transfers subject to applicable restrictions. |
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Procedure and Administration
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| Records required to be kept. |
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| General requirement of return, statement, or list. |
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| Requirement of statement disclosing participation in certain transactions by taxpayers. |
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| Persons required to file returns. |
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| Returns required in case of consent under section 2513. |
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| Description of property listed on return. |
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| Reporting requirements for tax return preparers. |
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| Signing of returns and other documents. |
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| Returns, time for filing gift tax returns for gifts made after December 31, 1981. |
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| Returns; time for filing gift tax returns for gifts made after December 31, 1976, and before January 1, 1982. |
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| Automatic extension of time for filing gift tax returns. |
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| Place for filing returns and other documents. |
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| Tax return preparer must furnish copy of return to taxpayer and must retain a copy or record. |
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| Tax return preparers furnishing identifying numbers for returns or claims for refund. |
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| Time and place for paying tax shown on return. |
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| Extension of time for paying tax or deficiency. |
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| Bonds where time to pay tax or deficiency has been extended. |
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| Voluntary payments of gift taxes by electronic funds transfer. |
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| Validity and priority against certain persons. |
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| Special lien for gift tax. |
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| Interest on underpayment, nonpayment, or extensions of time for payment, of tax. |
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| Section 6694 penalties applicable to tax return preparer. |
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| Penalties for understatement due to an unreasonable position. |
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| Penalty for understatement due to willful, reckless, or intentional conduct. |
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| Extension of period of collection when tax return preparer pays 15 percent of a penalty for understatement of taxpayer's liability and certain other procedural matters. |
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| Other assessable penalties with respect to the preparation of tax returns for other persons. |
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| Claims for credit or refund by tax return preparers. |
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| Discharge of executor from personal liability for decedent's income and gift taxes. |
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General Actuarial Valuations
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| Valuation of annuities, unitrust interests, interests for life or terms of years, and remainder or reversionary interests. |
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| Valuation of charitable interests. |
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| Limitation on the application of section 7520. |
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| Definitions; spouse, husband and wife, husband, wife, marriage. |
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