Internal Revenue Code Section 2518

2518 a general rule for purposes of this subtitle if a person makes a qualified disclaimer with respect to any interest in property this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person.

Internal revenue code section 2518. Internal revenue code section 2518 disclaimers and the 1981 economic recovery tax act. B qualified disclaimer defined. Section 2518 a provides that if a person makes a qualified disclaimer of an interest in property the estate gift and generation skipping transfer tax provisions will apply to that interest as if it had never been transferred to such person.

Internal revenue code section 2518 disclaimers general rule a for purposes of this subtitle if a person makes a qualified disclaimer with respect to any interest in property this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person. In general to be a qualified disclaimer. Under 2518 b the term qualified disclaimer means an irrevocable and unqualified.

Disclaimers a general rule. Continued unequal treatment of taxpayers i. For purposes of this subtitle if a person makes a qualified disclaimer with respect to any interest in property this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person.

2518 b qualified disclaimer defined. Introduction one of the purposes of estate planning is to decrease or eliminate federal and state taxes by distributing family wealth to meet family members needs 1 disclaimers2 can play an im. 1 the disclaimer must be irrevocable and unqualified.

Internal revenue code 2518. 2518 u s. Section 2518 of the irc permits a beneficiary of an estate or trust to make a qualified disclaimer so that it is as though the beneficiary never received the property for tax purposes.

For purposes of this subtitle if a person makes a qualified disclaimer with respect to any interest in property this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person. Code unannotated title 26. 2 the disclaimer must be in writing.