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HomeMy WebLinkAbout01-06-09PENNSYLVANIA INHERITANCE TAX INFORMATION NOTICE ,/ _ _ AND FILE N0. 21 ^(~~' `o~~`( BUREAU OF INDIVIDUAL TAXES (~~ - I ACN 08161630 Pa BDx zaoeal - ' TAXPAYER RESPONSE HARRISBURG PA nlza-Deal `r. ' DATE 12-16-2008 REV-1541 EX PFP !00-00) ~ _ JAN -6 AH I I ~ 48 oRPC~ s °oURr CUMBFRI~MaD r~?, PA JIX ELIZABETH SPAHR 33 WEST LOCUST STREET MECHANICSBURG PA 17055 EST. OF RICHARD C SPAHR SSN 196-50-3702 DATE OF DEATH 11-30-2008 COUNTY CUMBERLAND REMIT PAYMENT AND FORMS T0: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 TYPE OF ACCOUNT SAVINGS ® CHECKING TRUST CERTIF. MEMBERS 1ST FCU provided the Dapa rtment with the information below, which has bean used in calculating the potential taz due. Records indi cake that ak the death of the above-named tlecedent. You were a ,i Dint owner/banef ici arv of this account. If you feel the inforn ation is incorreck, please obtain written correckion fron the financial institution, attach a copy to this form antl return it to the above address. This account is taxable in acco rtlance wikh the Inheritance Tax laws of the Commonwealth of Pennsylvania. Please call O1]J ]B]-832] with questions. COMPLETE PART 1 BELOW ^ SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 339455-1 1 Date 09-17-2008 To ensure prover credit to khe account two copies of this nokice must acconpanY Established payment to the Register of Wills. Make check •00 payable to "Register of Wills. Agent". Account Balance $ Percent Taxable X 100.00 NOTE: If tax payments are wade within three Amount Subject to Tax $` • 00 months of the decetlenk's date of death, 045 tledu ct a 5 percent discpunk on khe kax due. Tax Rate X Any Inha ritance Tax tlue will become delinquent Potential TaX DU¢ $ 00 nine months of tar the tlata of death. TOTAL (Enter on Line 5 of Tax Compuk Under Penalties of Per]ury, I d¢clare that the fac ks I have reported above are true, correct and complete to the best of my knowledge antl belief. HOME C 7/~7 ) ~~,L ~/ ~~ ~ ~~~ ~ ~~ ~, WORK C ) d5 C' unN[' NIIM RFR AT GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT with applicable interest based on infornati on subnittatl by the financial institution. 2. Inherit once Tax becem es delinquent nine months after the decedent's date of death. 3. A joint account is taxable even when the decedent's name was added as a matter of convenience. 4. Accounts (i nclutling those held between husband and wife) the tlecetlent put in joint names within one year prior to death are fully taxable. 5. Accounts established jointly between husband and wife more than one year prior to death are not taxable. 6. Accounts held by a tlecetlent "in trust for'• another or akhe rs era fully taxable. REPORTING INSTRUCTIONS - PART 1 - TAXPAYER RESPONSE 1. BLOCK A - If the information and com pukation in the notice are correct and deductions are not being claimed, place an "X" in Block A of Part 1 of the "Taxpayer Response" section. Sign two copies and submik them wish a check for the amount of tax to the register of wills of the county intlicatetl. The PA pepartm enk of Revenue will issue an official assessmenk (Form REV-1548 EX) upon receipt of the return from the register of wills. 2. BLOCK B - If the asset specif ietl on this notice has been or will be reported and tax paid with the Pennsylvania Inheritance Tax Ref urn filed by the estate's representative, place an "X" in Block B of Part 1 of the "T axpav er Response" section. Sign one copy and return ko the register of wills of the county intli cote tl. 3. BLOCK C - If the notice information is incorrect and/or tletluctions are being claimed, check Block C and compleke Parts 2 and 3 according to the instructions below. Sign two copies and submit them wikh your check for the amount of tax payable to the register of wills of the county intlicatetl. The PA Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return From the resister of wills. TAX RETURN - PART 2 - TAX COMPUTATION LINE 1. Enter the date the accounk off ginallY was established or titled in She Wanner existing at date of death. NOTE: For a tlecedenk who died of ter l2/12/82, accounts the decedent put in joint names within one year of death are fully taxable. However, there is an exclusion not Yo exceed 63,000 per transferee, regardless of the value of The account or the number pf accounts held. If a double asterisk (x~) appears before your first name in the address portion of this notice, the 53,000 exclusion was deducted from the account balance as reported by the financial institution. 2. Enter the total balance of the account including interest accrued to the date of death. 3. The percentage of the account that is taxable to each survivor is deterninetl as follows: A. The percentage Taxable of joint assets established more than one year prior to the decedent's tle ath: 1 DIVIDED BY TOTAL NUMBER OF DIVIDED BY TOTAL NUMBER OF MULTIPLIED BY 100 = PERCENT TAXABLE JOINT OWNERS SURVIVING JD INT OWNERS Example: A joint asset registered in the name of the decedent and Two okher persons: 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) _ .16] X 100 = 16.] percent (TAXABLE TO EACH SURVIVOR) B. The percentage taxable for assets created within one year of the decedent's death or accounts ow netl by the decedent but held in Trust for another individual(s) (trust beneficiaries): 1 DIVIDED BV TOTAL NUMBER DF SURVIVING JOINT MULTIPLIED BY 100 = PERCENT TAXABLE OWNERS OR TRUST BENEFICIARIES Example: Joint account resist eretl in the nave of the tlecetlent and two other persons and established within one year of death by the tlecetlent. 1 DIVIDED BV 2 (SURVIVORS) _ .50 X 100 = 50 percent (TAXABLE FOR EACH SURVIVOR) 4. The amount subject to taz (Line 4) is determined by mulkiply inp the account balance (Line D by the percent taxable (Line 3). 5. Enter the total of the debts and tletluctions listed in Part 3. 6. The an ount taxable (Line 6) is tlek mrninetl by subtracting the debts and deductions (Line 5) from the amount subjeck to Tax (Line 4). 7. Enter the appropriate tax rake (Line ]) as determined below. Date of Death Spouse Lineal Sibling Collateral 07/01/94 to 12/31/94 3 pa rc ent 6 percent 15 pe reant 15 percent 01/01/95 to 06/30/00 0 percent 6 percent 15 pe rc ant 15 percent 07/01/00 tp present :'The tax rake inoosnd on tho 0 percent not .~:~~o ..e r..,... 4.5 percent a .a ___ ____ _ _____ 12 percent _. -.. _. 15 percent _ -- -~ •• ••-•_•~ •• - o u years ar sae or younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the hill is 0 percent. Tha lineal class of hairs includes grandparents, parents, children and okher lineal tlescen dents. "Children" includes natural children whether or not they have been adopted by others, atlopketl children and step children. "lineal tlescentlents" includes all children of the natural parents and their tleseentlenk s, whether or Wok they have been adopted by others; adopted tlescentlents and their tlescen dents; and step-tlescentlents. "S ibling s•' are defined as individuals who have at least one parent in conmpn with the tlecetlent, whether by blood or adoption. The Collateral class of heirs includes all other benaf ici arie s. CLAIMED DEDUCTIONS - PART 3 - DEBTS AND DEDUCTIONS CLAIMED Allowable debts and deductions are determined as follows: A. Yau are legally raspon Bible for payment, or the estate subj act ko atlnini st ration by a personal rep resent skive is insufficient to pay the deductible items. B. You actually paid the debts of Ter the death of the tlecetlent and can furnish proof of pavm ent. C. Debts beinH claimed must be iteniz ed fully in Park 3. If additional space is needed, use 8 1/2" x 11" sheet of paper. Proof of pays ant may be requested by the PA Oepartnent of Revenue.