Labels:book | reckoner | sky OCR: Congress Has Consistently Provided that Effectve Disclaimers Are Not Transfeis Sublect to Federal GitTax Section 501(a) of the Tax Act enacted in 1932 imposed tax on the "transfer of property by gift. he Act further provided that "[t]he tax shall apply whether the transfer trust 10 otherwise, whether the direct indir rect and whether the property real personal tangible Of intangible. 501(b} 17 The wards "transfer, property, pue "gift" have their source property law fundamental precept of property law transfer is not complete until accepted, and uostad cannot be forced to accept property The right t refise accept gift, by means disclaimer, universally recognized tapun general property law and effective disclaimer is "transfeI the disclaimant Brown F.2d Since 1932 Congress has explicitly and ...
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