The Federal Tax System of the United States: A Survey of Law and Administration

CODE SECTIONS 800-939; REGULATIONS 105

AN ESTATE TAX is imposed on the transfer of property by death. The preparation and filing of an estate tax return and the payment of the tax are duties of the decedent's representative, who is charged with administration of the estate. The administrator or executor ^* receives from the probate court an accrediting document which authorizes him to act in the representative capacity. If an estate is informally administered without appointment of an administrator or executor or reference to a probate court, any heir, or other beneficiary who received property of the decedent is liable for the filing of the estate tax return and for the tax up to the value of the property received by him.

All assets and liabilities of the decedent must be reported and valued on the return, and his assets constitute the gross estate, which is defined to comprise the value not only of the assets the decedent directly owned at his death ^† but also of certain assets which he transferred to others during his lifetime ^‡ or over which he maintained proprietary controls during his lifetime.^§ From the value of the gross estate his

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