[Code of Federal Regulations]
[Title 26, Volume 14]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR25.2523(h)-2]

[Page 622]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 25_GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954--Table of Contents
 
Sec.  25.2523(h)-2  Effective dates.

    Except as specifically provided, in Sec. Sec.  25.2523(e)-1(c)(3), 
25.2523(f)-1(c)(3), and 25.2523(g)-1(b), the provisions of Sec. Sec.  
25.2523(e)-1(c), 25.2523(f)-1, 25.2523(g)-1, and 25.2523(h)-1 are 
effective with respect to gifts made after March 1, 1994. With respect 
to gifts made on or before such date, donors may rely on any reasonable 
interpretation of the statutory provisions. For these purposes, the 
provisions of Sec. Sec.  25.2523(e)-1(c), 25.2523(f)-1, 25.2523(g)-1, 
and 25.2523(h)-1, (as well as project LR-211-76, 1984-1 C.B., page 598, 
see Sec.  601.601(d)(2)(ii)(b) of this chapter), are considered a 
reasonable interpretation of the statutory provisions. In addition, the 
rule in the last sentence of Sec.  25.2523(e)-1(f)(1) regarding the 
determination of income under applicable local law applies to trusts for 
taxable years ending after January 2, 2004.

[T.D. 8522, 59 FR 9663, Mar. 1, 1994, as amended by T.D. 9102, 69 FR 21, 
Jan. 2, 2004]