<searchTitle>Declaratory Judgments-Gift Tax Determinations; Federal Register Vol. 74, Issue </searchTitle>
<granuleClass>RULE</granuleClass>
<accessId>E9-21458</accessId>
<agency order="1">DEPARTMENT OF THE TREASURY</agency>
<agency order="2">Internal Revenue Service</agency>
<effectiveDate>2009-09-09</effectiveDate>
<departmentDoc>TD 9460</departmentDoc>
<rin number="1545-BD67"/>
<billingCode>4830-01-P</billingCode>
<frDocNumber>E9-21458</frDocNumber>
<action>Final regulations.</action>
<summary>This document contains final regulations under section 7477 of the Internal Revenue Code (Code) regarding petitions filed with the United States Tax Court for declaratory judgments with respect to the valuation of gifts. Changes to the applicable law were made by section 506(c)(1) of the Taxpayer Relief Act of 1997. These final regulations primarily affect individuals who are donors of gifts. The final regulations provide rules for determining whether a donor may petition the Tax Court for a determination regarding the value of a gift, including guidance regarding the definition of "exhaustion of administrative remedies."</summary>
<dates>Effective date: These regulations are effective September 9, 2009.</dates>
<contact>Deborah S. Ryan or George Masnik (202) 622-3090 (not a toll free number).</contact>
<cfr title="26">
<part number="301"/>
<subject>Employment Taxes</subject>
<subject>Estate Taxes</subject>
<subject>Excise Taxes</subject>
<subject>Gift Taxes</subject>
<subject>Income Taxes</subject>
<subject>Penalties</subject>
<subject>Reporting and Recordkeeping Requirements</subject>
...</cfr>
<tocDoc>Declaratory Judgments Gift Tax Determinations
, </tocDoc>