
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC7477]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
                    CHAPTER 76--JUDICIAL PROCEEDINGS
 
                       Subchapter C--The Tax Court
 
                     PART IV--DECLARATORY JUDGMENTS
 
Sec. 7477. Declaratory judgments relating to value of certain 
        gifts
        

(a) Creation of remedy

    In a case of an actual controversy involving a determination by the 
Secretary of the value of any gift shown on the return of tax imposed by 
chapter 12 or disclosed on such return or in any statement attached to 
such return, upon the filing of an appropriate pleading, the Tax Court 
may make a declaration of the value of such gift. Any such declaration 
shall have the force and effect of a decision of the Tax Court and shall 
be reviewable as such.

(b) Limitations

                           (1) Petitioner

        A pleading may be filed under this section only by the donor.

              (2) Exhaustion of administrative remedies

        The court shall not issue a declaratory judgment or decree under 
    this section in any proceeding unless it determines that the 
    petitioner has exhausted all available administrative remedies 
    within the Internal Revenue Service.

                    (3) Time for bringing action

        If the Secretary sends by certified or registered mail notice of 
    his determination as described in subsection (a) to the petitioner, 
    no proceeding may be initiated under this section unless the 
    pleading is filed before the 91st day after the date of such 
    mailing.

(Added Pub. L. 105-34, title V, Sec. 506(c)(1), Aug. 5, 1997, 111 Stat. 
855.)


                            Prior Provisions

    A prior section 7477, added Pub. L. 94-455, title X, 
Sec. 1042(d)(1), Oct. 4, 1976, 90 Stat. 1637; amended Pub. L. 95-600, 
title III, Sec. 336(b)(2)(B), Nov. 6, 1978, 92 Stat. 2842, provided for 
declaratory judgments relating to transfers of property from the United 
States, prior to repeal by Pub. L. 98-369, div. A, title I, 
Sec. 131(e)(1), (g), July 18, 1984, 98 Stat. 664, 665, applicable to 
transfers or exchanges after Dec. 31, 1984, in taxable years ending 
after such date, with special rules for certain transfers and ruling 
requests before Mar. 1, 1984.


                             Effective Date

    Section applicable to gifts made after Aug. 5, 1997, see section 
506(e)(1) of Pub. L. 105-34, set out as an Effective Date of 1997 
Amendment note under section 2001 of this title.
