...excluded in determining the total amount of gifts made during the calendar year. "Future interests" is a legal term, and includes reversions, remainders,...possession, or enjoyment at some future date or time. * * * But a future interest or interests in such contractual obligations may be created by the limitations...

...declaring that "future interests" shall include any interest or estate "whether vested or contingent, limited to commence in use, possession, or enjoyment at some future date or time." 3. Federal revenue laws are to be construed in the light of their general purpose to establish a Nation-wide...

...interest in property is any interest or estate in property, whether vested or contingent, which is limited to commence in use, possession, or enjoyment at some future date or time. Gifts of such interests are taxable subject only to the deductions authorized by section 505. For the...

...purposes of the tax, is $4,000. 15 amount of gifts made during the calendar year. "Future interests" is a legal term, and includes reversions, remainders,...possession, or enjoyment at some future date or time. The term has no reference to such contractual rights as exist in a bond, note (though bearing no interest...

...excluded in determining the total amount of gifts made during the calendar year. "Future interests" is a legal term, and includes reversions, remainders,...possession, or enjoyment at some future date or time. The term has no reference to such contractual rights as exist in a bond, note (though bearing no interest...

...(b), declared that "future interests" include any interest or estate "whether vested or contingent, limited to commence in use, possession, or enjoyment at some future date or time." This definition stands unchanged in the regulations and, while § 504 (b) was amended by § 505 of the 1938 Revenue...

...(b), declared that "future interests" include any interest or estate "whether vested or contingent, limited to commence in use, possession, or enjoyment at some future date or time." This definition stands unchanged in the regulations and, while § 504 (b) was amended by § 505 of the 1938 Revenue...

...the meaning of the statute and the regulation. The latter provides: Art. 11. ... "Future interests" is a legal term, and includes reversions, remainders,...possession, or enjoyment at some future date or time. . . . [Emphasis added.] Upon the facts the issue turns on whether the interests acquired by the minor...

...the meaning of the statute and the regulation. The latter provides: "Art. 11. ... 'Future interests' is a legal term, and includes reversions, remainders,...possession, or enjoyment at some future date or time. . . ." (Emphasis added.) Upon the facts the issue turns on whether the interests acquired by the minor...

...the meaning of the statute and the regulation. The latter provides: "Art. 11. ... 'Future interests' is a legal term, and includes reversions, remainders,...possession, or enjoyment at some future date or time. . . ." (Emphasis added.) Upon the facts the issue turns on whether the interests acquired by the minor...