Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTION 91 OF REPUBLIC ACT 8424, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997 (NATIONAL INTERNAL REVENUE CODE)
Text as filed (link)
Date filed
February 10, 2014
Scope
Legislative History
| House Bill/Resolution NO. HB03865 |
| FULL TITLE : AN ACT AMENDING SECTION 91 OF REPUBLIC ACT 8424, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997 (NATIONAL INTERNAL REVENUE CODE) |
| ABSTRACT : Gives the heirs of the decedent the opportunity to pay the gross estate tax on the properties included in the estate, per property, meaning, the heirs can pay first the estate tax on one property, to be able to cause the transfer of the said property to the heirs or one of the heirs, of for the latter to be able to sell the same and the proceeds to be used as payment for the other estate tax, and so forth. |
| PRINCIPAL AUTHOR/S : BONOAN, MA. THERESA A. |
| DATE FILED : 2014-02-10 |
| SIGNIFICANCE: NATIONAL |
| NATURE : Economic |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2014-02-17 |
Abstract
Gives the heirs of the decedent the opportunity to pay the gross estate tax on the properties included in the estate, per property, meaning, the heirs can pay first the estate tax on one property, to be able to cause the transfer of the said property to the heirs or one of the heirs, of for the latter to be able to sell the same and the proceeds to be used as payment for the other estate tax, and so forth.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.