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TREAS/IRS RIN: 1545-BH64 Publication ID: Fall 2014 
Title: Gross Estate; Election to Value on Alternate Valuation Date 
Abstract: In cases where section 2032 election has been made, the proposed regulations provide guidance on: (1) The effect of certain post-death transactions on assets includible in the decedent's gross estate; (2) the treatment of assets the title to which is transferred at death by contract; (3) the determination of the portion of trusts in which the decedent retained an interest that are includible in the decedent's gross estate under section 2036; (4) the effect of the grant of a qualified conservation easement under section 2031(c) during the 6-month period after the date of death; and (5) the types of factors, the impact of which affect the fair market value of assets includible in the decedent's gross estate, that will be recognized under section 2032. 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 20   
Legal Authority: 26 USC 7805    26 USC 2032-1(c)    26 USC 2032-1(e)    26 USC 2032-1(f)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  04/25/2008  73 FR 22300   
NPRM Comment Period End  07/24/2008    
Second NPRM  11/18/2011  76 FR 71491   
Second NPRM Comment Period End  02/16/2012 
Final Action  12/00/2014 
Additional Information: REG-112196-07 Drafting attorney: Theresa M. Melchiorre (202) 317-6859 Reviewing attorney: Lorraine E. Gardner (202) 317-6859 Treasury attorney: Catherine Hughes (202) 622-9407 CC:PSI
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Undetermined 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Theresa M. Melchiorre
General Attorney (Tax)
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 4115,
Washington, DC 20224
Phone:202 317-6859
Fax:202 317-4644
Email: theresa.m.melchiorre@irscounsel.treas.gov