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Title 26 Part 1 → §1.507-8

Title 26 → Chapter I → Subchapter A → Part 1 → §1.507-8

Electronic Code of Federal Regulations e-CFR

Title 26 Part 1 → §1.507-8

e-CFR data is current as of December 5, 2019

Title 26Chapter ISubchapter APart 1 → §1.507-8


Title 26: Internal Revenue
PART 1—INCOME TAXES (CONTINUED)


§1.507-8   Liability in case of transfers.

For purposes of determining liability for the tax imposed under section 507(c) in the case of assets transferred by the private foundation, such tax shall be deemed to have been imposed on the first day on which action is taken by the organization which culminates in its ceasing to be a private foundation. If an organization's private foundation status is terminated under section 507(a)(2), the first day on which action is taken which culminates in its ceasing to be a private foundation (within the meaning of section 507(f)) shall be the date described in §1.507-7(b)(2). If an organization terminates its private foundation status under section 507(a)(1), the first day on which action is taken which culminates in its ceasing to be a private foundation (within the meaning of section 507(f)) shall be the date described in §1.507-7(b)(1).

[T.D. 7233, 37 FR 28161, Dec. 21, 1972]


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