Code of Federal Regulations · Section
§ 25.2704-3 — -3 Effective Date
26 C.F.R. § 25.2704-3
Section 25.2704-1 applies to lapses occurring after January 28, 1992, of rights created after October 8, 1990. Section 25.2704-2 applies to transfers occurring after January 28, 1992, of property subject to applicable restrictions created after October 8, 1990. In determining whether a voting right or a liquidation right has lapsed prior to that date, and for purposes of determining whether the lapse is subject to section 2704(a), taxpayers may rely on any reasonable interpretation of the statutory provisions. For transfers of interests occurring before January 28, 1992, taxpayers may rely on any reasonable interpretation of the statutory provisions in detemining whether a restriction is an applicable restriction that must be disregarded in determining the value of the transferred interest. For these purposes, the provisions of the proposed regulations and the final regulations are considered a reasonable interpretation of the statutory provisions.
Authorizing Statute
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Extension of time for filing returns26 U.S.C. § 6081
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Unified credit against estate tax26 U.S.C. § 2010
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Mode or time of collection26 U.S.C. § 6302
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Rules and regulations26 U.S.C. § 7805
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Information returns of tax return preparers26 U.S.C. § 6060
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Valuation tables26 U.S.C. § 7520
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Disclaimers26 U.S.C. § 2518
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Identifying numbers26 U.S.C. § 6109