Modifications to gift tax payable to reflect different tax rates
For purposes of applying subsection (b)(2) with respect to 1 or more gifts, the rates of tax under subsection (c) in effect at the decedent’s death shall, in lieu of the rates of tax in effect at the time of such gifts, be used both to compute—
(A)#
the tax imposed by chapter 12 with respect to such gifts, and
(B)#
the credit allowed against such tax under section 2505, including in computing—
(i) the applicable credit amount under section 2505(a)(1), and
(ii) the sum of the amounts allowed as a credit for all preceding periods under section 2505(a)(2).
(B)(i)#
the applicable credit amount under section 2505(a)(1), and
(B)(ii)#
the sum of the amounts allowed as a credit for all preceding periods under section 2505(a)(2).