[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR301.7517-1]

[Page 572]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                          Judicial Proceedings
 
Sec. 301.7517-1  Furnishing on request of statement explaining estate 
or gift valuation.

    (a) In general. Section 7517 requires the Service to furnish to a 
taxpayer, at the request of that taxpayer, a statement explaining the 
estate, gift or generation-skipping transfer valuation of any item 
contained on a return filed by the taxpayer as to which a determination 
or proposed determination of value has been made. The request must be 
filed no later than the latest time to file a claim for refund of the 
tax which is dependent on the value with respect to which the 
determination has been made. The request should be filed with the 
district director's office that has jurisdiction over the return of the 
taxpayer.
    (b) Effective date--(1) Estates of decedents. Section 7517 applies 
to estates of decedents dying after December 31, 1976.
    (2) Gifts. Section 7517 applies to gifts made after December 31, 
1976.
    (3) Generation-skipping transfer. Section 7517 applies to any 
generation-skipping transfer subject to chapter 13.

[T.D. 7757, 46 FR 6930, Jan. 22, 1981]