[Federal Register Volume 85, Number 25 (Thursday, February 6, 2020)]
[Rules and Regulations]
[Page 6803]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01392]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 25

[TD 9884]
RIN 1545-B072


Estate and Gift Taxes; Difference in the Basic Exclusion Amount

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document contains corrections to Treasury Decision 9884, 
which was published in the Federal Register for Tuesday, November 26, 
2019. Treasury Decision 9884 contained final regulations addressing the 
effect of recent legislative changes to the basic exclusion amount 
allowable in computing Federal gift and estate taxes. The final 
regulations affect donors of gifts made after 2017 and the estates of 
decedents dying after 2017.

DATES: 
    Effective Date: These final regulations are effective on and after 
February 6, 2020.
    Applicability Date: For date of applicability, see Sec.  20.2010-
1(f)(2).

FOR FURTHER INFORMATION CONTACT: John D. MacEachen, (202) 317-6859 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulation (TD 9884) that is the subject of this 
correction is under section 2010 of the Internal Revenue Code.

Need for Correction

    As published November 26, 2019 (84 FR 64995), the final regulation 
(TD 9884; FR Doc. 2019-25601) contained an omission that may prove 
misleading and therefore should be corrected.

List of Subjects in 26 CFR Part 25

    Gift taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 25 is corrected by making the following 
corrective amendment:

PART 25--GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954

0
Par. 1. The authority citation for part 25 continues to read in part as 
follows:

    Authority: 26 U.S.C. 7805.
* * * * *


Sec.  25.2505-2  [Amended]

0
Par. 2. Section 25.2505-2 is amended by removing ``Sec.  20.2010-
1(d)(5)'' wherever it appears and adding in its place ``Sec.  20.2010-
1(e)(5)''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2020-01392 Filed 2-5-20; 8:45 am]
BILLING CODE 4830-01-P