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REG-112997-10: Guidance Under Section 2801 Regarding the Imposition of Tax on Certain Gifts and Bequests From Covered Expatriates

Date: 2015-09-10
Links to Federal Register: HTML, PDF
Document Number: 2015-22574, RIN: 1545-BJ43
Action: Notice of proposed rulemaking and notice of public hearing.

Abstract: This document contains proposed regulations relating to a tax on United States citizens and residents who receive gifts or bequests from certain individuals who relinquished United States citizenship or ceased to be lawful permanent residents of the United States on or after June 17, 2008. These proposed regulations affect taxpayers who receive covered gifts or covered bequests on or after the date these regulations are published as final regulations in the Federal Register. This document also provides notice of a public hearing on these proposed regulations.

Word frequency
Notable phrases   Frequency
foreign trust      259
covered gift(s) (and|or) covered bequest(s)      233
section 2801 tax      155
U.S. citizen or resident      90
domestic trust      84
Form 708      77
gift or bequest      37
power of appointment      36
covered expatriate(s)      8

Reg. Cites   Frequency
28.2801-5(d)      15
28.2801-2(e)      9
28.6001-1      6
28.6011-1      6
28.2801-2(b)      6
28.6071-1      6
28.2801-3      6
28.2801-7      5
28.2801-4      5
28.6091-1      5
28.2801-1      5
28.6101-1      4
28.6107-1      4
28.6109-1      4
28.6081-1      4
28.6060-1      4
28.2801-5      4
28.6151-1      4
28.6696-1      4
28.6695-1      4

Sec. Cites   Frequency
2801      279
6048(c)      7
2503(b)      7
6651      6
2801(c)      6
2801(e)(4)      5
2801(e)(3)      5
664      5
164      5
6039F      5
877A(g)(1)      4
877A      4
6695A      3
6677(a)      3
6501      3
6694      3
501(c)      2
501(a)      2
6039F(c)(1)(A)      2

Authorities Referenced:


Statistics

Number of pages: 22, words: 26,570, sentences: 926
Average words per sentence: 28