26 USC 6901 - Transferred assets

U.S Code last checked for updates: Nov 22, 2024

§ 6901.

Transferred assets

(a)

Method of collection

The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, paid, and collected in the same manner and subject to the same provisions and limitations as in the case of the taxes with respect to which the liabilities were incurred:

(1)

Income, estate, and gift taxes

(A)

Transferees

The liability, at law or in equity, of a transferee of property—

(i)

of a taxpayer in the case of a tax imposed by subtitle A (relating to income taxes),

(ii)

of a decedent in the case of a tax imposed by chapter 11 (relating to estate taxes), or

(iii)

of a donor in the case of a tax imposed by chapter 12 (relating to gift taxes),

in respect of the tax imposed by subtitle A or B.

(B)

Fiduciaries

(2)

Other taxes

(b)

Liability

(c)

Period of limitations

The period of limitations for assessment of any such liability of a transferee or a fiduciary shall be as follows:

(1)

Initial transferee

(2)

Transferee of transferee

except that if, before the expiration of the period of limitation for the assessment of the liability of the transferee, a court proceeding for the collection of the tax or liability in respect thereof has been begun against the initial transferor or the last preceding transferee, respectively, then the period of limitation for assessment of the liability of the transferee shall expire 1 year after the return of execution in the court proceeding.

(3)

Fiduciary

(d)

Extension by agreement

(1)

Extension of time for assessment

(2)

Extension of time for credit or refund

(e)

Period for assessment against transferor

(f)

Suspension of running of period of limitations

(g)

Address for notice of liability

(h)

Definition of transferee

(i)

Extension of time

(Aug. 16, 1954, ch. 736, 68A Stat. 841; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 97–258, § 3(f)(10), Sept. 13, 1982, 96 Stat. 1065; Pub. L. 115–141, div. U, title IV, § 401(a)(322), Mar. 23, 2018, 132 Stat. 1199.)

cite as: 26 USC 6901