§6151. Time and place for paying tax shown on returns — Inbound Citations
26 U.S.C. § 6151
Cited by 10 provisions in release 119-102.
Citations to 26 U.S.C. § 6151 as a whole
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(5) Nothing in this subsection shall be construed to relieve any person from any requirement prescribed by or under authority of law with respect to drugs now included or which may hereafter be included within the classifications stated in sections 4721, 6001, and 6151 of title 26, or to marihuana as defined in section 4761 of title 26).
Citations to §6151(a)
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(2) The Secretary may, for reasonable cause, extend the time for payment of—(A) any part of the amount determined by the executor as the tax imposed by chapter 11, or(B) any part of any installment under section 6166 (including any part of a deficiency prorated to any installment under such section).for a reasonable period not in excess of 10 years from the date prescribed by section 6151(a) for payment of the tax (or, in the case of an amount referred to in subparagraph (B), if later, not beyond the date which is 12 months after the due date for the last installment).
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(3) If an election is made under paragraph (1), the first installment shall be paid on or before the date selected by the executor which is not more than 5 years after the date prescribed by section 6151(a) for payment of the tax, and each succeeding installment shall be paid on or before the date which is 1 year after the date prescribed by this paragraph for payment of the preceding installment.
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(ii) the executor shall be treated as having selected under subsection (a)(3) the date prescribed by section 6151(a), and
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(ii) The executor shall be treated as having selected under subsection (a)(3) the date prescribed by section 6151(a).
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(ii) The executor shall be treated as having selected under subsection (a)(3) the date prescribed by section 6151(a).
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(1) Interest payable under section 6601 of any unpaid portion of such amount attributable to the first 5 years after the date prescribed by section 6151(a) for payment of the tax shall be paid annually.
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(2) The maximum value of the property which the Secretary may require as section 6166 lien property with respect to any estate shall be a value which is not greater than the sum of—(A) the deferred amount, and(B) the required interest amount.For purposes of the preceding sentence, the value of any property shall be determined as of the date prescribed by section 6151(a) for payment of the tax imposed by chapter 11 and shall be determined by taking into account any encumbrance such as a lien under section 6324B.
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(1) The term “deferred amount” means the aggregate amount deferred under section 6166 (determined as of the date prescribed by section 6151(a) for payment of the tax imposed by chapter 11).
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(2) The term “required interest amount” means the aggregate amount of interest which will be payable over the first 4 years of the deferral period with respect to the deferred amount (determined as of the date prescribed by section 6151(a) for the payment of the tax imposed by chapter 11).