Page:United States Statutes at Large Volume 84 Part 2.djvu/512

 1842

PUBLIC LAW 91-614-DEC. 31, 1970

[84 STAT.

quarter and other than qualified charitable transfers) shall make a return for such quarter with respect to the gift tax imposed by sub"(b)

QUALIFIED CHARITABLE TRANSFERS.— "(1) RETURN REQUIREMENT.—A return

shall be made of any

qualified charitable transfer— " (A) for the first calendar quarter, in the calendar year in which the transfer is made, for which a return is required to be filed under subsection (a), or " (B) if no return is required to be filed under subparagraph (A), for the fourth calendar quarter in the calendar year in which such transfer is made. A return made pursuant to the provisions of this paragraph shall be deemed to be a return with respect to any transfer reported as a qualified charitable transfer for the calendar quarter in which such transfer was made. "(2)

68A Stat. 410;

53 Stat. 5 6 1. 26 USC 2522.

Ante, p. 1841.

OF QUALIFIED CHARITABLE

TRANSFER.—For

purposes of this section, the term 'qualified charitable transfer' means a transfer by gift with respect to which a deduction is allowable under section 2522 in an amount equal to the amount transferred. "(c)

TENANCY BY THE ENTIRETY.—

"For provisions relating to requirement of return in the case of election as to the treatment of gift by creation of tenancy by the entirety, see section 2515(c)." (4) Subsection (b) of section 6075 (relating to time for filing gift tax returns) is amended to read as follows: " (b) GiFT TAX REIXTRNS.—Retums made under section 6019 (relating to gift taxes) shall be filed on or before the 15th day of the second month following the close of the calendar quarter." (5) Paragraph (1) of subsection (c) of section 6212 (relating to notice of deficiency) is amended by striking out "calendar year" and inserting in lieu thereof "calendar quarter". (6) Subsection (b) of section 6214 (relating to determination by Tax Court) is amended to read as follows: "(b)

80 Stati 113 2.

DEFINITION

JURISDICTION OVER OTHER YEARS AND QUARTERS.—The

Tax

Court in redetermining a deficiency of income tax for any taxable year or of gift tax for any calendar year or calendar quarter shall consider such facts with relation to the taxes for other years or calendar quarters as may be necessary correctly to redetermine the amount of such deficiency, but in so doing shall have no jurisdiction to determine whether or not the tax for any other year or calendar quarter has been overpaid or underpaid." (7) Subsection (b) of section 6324 (relating to lien for gift tax) is amended by striking out "calendar year" and inserting in lieu thereof "period for which the return was filed". (8) Paragraph (2) of section 6501(e) (relating to limitations on assessment and collection) is amended by striking out "during the year" and inserting in lieu thereof "during the period for which the return was filed". (9) Section 6512 (relating to limitations in case of petition to Tax Court) is amended by striking out "the same calendar year" each place it appears therein and inserting in lieu thereof "the same calendar year or calendar quarter". (e) EFFECTIVE DATE.—The amendments made by this section shall apply with respect to gifts made after December 31, 1970.

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