income in respect of a decedent

Income earned by a person, but not collected before death.

• This income is included in the decedent’s gross estate for estate-tax purposes. For income-tax purposes, it is taxed to the estate or, if the estate does not collect the income, it is taxed to the eventual recipient. — Abbr. IRD. [Cases: Internal Revenue 4035–4039; Taxation 1024. C.J.S. Internal Revenue §§ 435–439, 457–461; Taxation §§ 1710–1712.]

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词条贡献者

译者玉晶，毕业于世界顶级翻译学院，擅长翻译各种与风险投资相关的法律文件。