Loading...
HomeMy WebLinkAbout02-11-09PENNSYLVANIA INHERITANCE T~.X INFORMATION NOTICE BUREAU OF INDIVIDUAL TAXES f ~ ^:~ ~ '"" (AND FILE ND. 21 08-1139 Pa BDx zaocol T~A~Cpd~y,~~ RESPONSE ACN 09101513 HARRISBURG PA 17128-0601 - ~" DATE REV-1543 EX AFP (OB-OB) ~ 01 - 15 - 2 0 0 9 ?~~ ~~~ ~ ~ ~ ~ ~ 2 v 7 TYPE OF ACCOUNT EST. OF WILLIAM E DENISON ~ SAVINGS j ,' ~;~'~ _ SSN 209-12-9403 ~ CHECKING _i ',1 ~}~'F-~,~.,,r.:•~. _~~~~i iR~DATE OF DEATH OS-20-2008 ~ TRUST ~` ~ " ~~UNTY CUMBERLAND ~ CERTIF. REMIT PAYMENT AND FORMS T0: VIRGINIA B DENISON REGISTER OF WILLS 5445 RIVENDALE BLVD CUMBERLAND CO COURT HOUSE MECHANICSBURG PA 17050-2024 CARLISLE, PA 17013 BANK OF AMERICA NA provided the Department with the information below, which has been used in calculating the potential tax due. Records indicate that at the death of the above-named decedent, you were a joint owner/beneficiary of this account. If you feel the information is incorrect, please obtain written correction from the financial institution, attach a copy to this form and return it to the above address. This account is taxable in accordance with the Inheritance Tax laws of the Commonwealth of Pennsylvania. Please ca.. ,717. 7B7-B327 with questicns. COMPLETE PART ]. BELOW ~ SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 681D0404D51843 Date 03-23-2004 To ensure proper credit to the account, two Established copies of this notice must accompany Account Balance $ 35, D3D . D1 Payment to the Register of Wills. Make check Percent Taxable X 100.00 payable to "Register of Wills, Agent". Amount Subject to Tax $ 35, D3D . D1 NOTE: If tax payments are made within three Tax Rate X months of the decedent's date of death, . 15 deduct a 5 percent discount on the tax due. Potential Tax Due $ 5, 254.50 Any Inheritance Tax due will become delinquent nine months after the date of death. PART 0 TAXPAYER RESPONSE FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT A. ^ The above information and tax due is correct. Remit payment to the Register of Wills with two copies of this notice to obtain C H E C K a discount or avoid interest, ar check box "A'• and return this notice to the Register of C 0 N E ~ Wills and an official assessment will be issued by the PA Department of Revenue. B L 0 C K B. ~ The above asset has been or will be reported and tax paid with the Pennsylvania Inheritance Tax return 0 N L Y to be filed by the estate representative. C. ~ The above infor~~m--a--tllion is incorrect and/or debts and deductions were paid. Complete PART ~ [ ~ and/or PART 3LJ below. PART If indicating a different t r te, please state relationship to decedent: ~lfe OFFICIAL USE ONLY ~ AAF PA DEPARTMENT OF REVENUE TAX RETURN - COMPUTATION OF TAX ON JOINT/TRUST ACCOUNTS PAD LINE 1. Date Established 1 3-23-04 1 2. Account Balance 2 $ 35,~3~.01 2 3. Percent Taxable 3 X 1~0 3 4. Amount Subject to Tax 4 $ 35,~30.~1 4 5. Debts and Deductions 5 - ~ 5 6. Amount Taxable 6 $ 35,030.01 6 7. Tax Rate 7 X ~ 7 8. Tax Due g $ ~ ~ PART DEHTS AND DEDUCTIONS CLAIMED DATE PAID PAYEE nFSr_Rrprrnu ...,....._ _. __ Under penalties of perjury, I declare that the facts I have reported above are true, correct and complete to the best of my knowledge and belief. ~~ ~ ~ ) `~ ~ 1 HOME C ~ 6/- 6 2 ~ U ti P i.,,. ,. -. ~Z~ ~/ -~ ,, WORK C ) Q TAXP YER SIGNATURE TELEPHONE NUMBER - - - - - ATE ~- "- --••--• ~ vi lax VompULaLlOn) $ GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSMENT with applicable interest based on information submitted by the financial institution. 2. Inheritance Tax becomes 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 (including those held between husband and wife) the decedent 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 taxab e. 6. Accounts held by a decedent "in trust for" another or others are fully taxable. REPORTING INSTRUCTIONS - PART 1 - TAXPAYER RESPONSE 1. BLOCK A - If the information and computation 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 submit them with a check for the amount of tax to the register of wills of the county indicated. The PA Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register of wills. 2. BLOCK B - If the asset specified on this notice has been or will be reported and tax paid with the Pennsylvania Inheritance Tax Return filed by the estate's representative, place an "X" in Block B of Part 1 of the "Taxpayer Response" section. Sign one copy and return to the register of wills of the county indicated. 3. BLOCK C - If the notice information is incorrect and/ar deductions are being claimed, check Block C and complete Parts 2 and 3 according to the instructions below. Sign two copies and submit them with your check for the amount of tax payable to the register of wills of the county indicated. The PA ^epartment of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register pf wills. TAX RETURN - PART 2 - TAX COMPUTATION LINE 1. Enter the date the account originally was established or titled in the manner existing at date of dea NOTE: fully tax ablet wHowever,athe re ?i 12anB ex clusio nt no th to exceed S3 OO On pe rl transf eree thregardless of fthe av alue eof the account or the number of accounts held. wasadeductedafromlthe(accountebalanceoas reportedsbvnthe financialdinstitutionn of this notice, the 53,000 exclusion 2. Enter the total balance of the account including interest accrued tothe date of death. 3. The percentage of the account that is taxable to each survivor is determined as follows: A. The percentage taxable of joint assets established more than one year prior to the decedent's death: MULTIPLIED BY 100 = PERCENT TAXABLE 1 DIVIDED BY TOTAL NUMBER OF DIVIDED BY SURVIVINGBJOINT OWNERS JOINT OWNERS Example: A joint asset registered in the name of the decedent and two other persons: 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) _ .167 X 100 = 16.7 percent (TAXABLE TO EACH SURVIVOR) B. The percentage taxable for assets created within one year of the decedent's death or accounts owned by the decedent but held in trust for another individual(s) (trust beneficiaries): 1 DIVIDED BY OWNERSNOR TRUST BENEFICIARIESNT MULTIPLIED BY 100 = PERCENT TAXABLE Example: Joint account registered in the name of the decedent and two other persons and established within one year of death by the decedent. 1 DIVIDED BY 2 (SURVIVORS) _ .50 X 100 = 50 percent (TAXABLE FDR EACH SURVIVO 4. The amount subject to tax (Line 4) is determined by multiplying the account balance (Line 2) by the percent taxable (Line 3). 5. Enter the total of the debts and deductions listed in Part 3. 7. Entermthetappropriateltax6rate d(Linem7)easbdeterminedlbelowe debts and deductions (Line 5) from the amount subject to tax (Line 4 . Spouse Lineal Sibling Collateral Date of Death 07/01/94 to 12/31/94 3 percent 6 percent 15 percent 15 percent 6 percent 15 percent 15 percent 01/01/95 to 06/30/00 0 percent * 12 percent 15 percent 07/01/00 to present 0 percent 4.5 percent ^The tax rate imposed on the net value of transfers from a deceased child 21 nears of age or younger at death to or for the use of a natural parent, an adoptive parent or a stepparent of the child is 0 percent. The lineal class of heirs includes grandparents, parents, children and other lineal descendents. "Children" includes natural children whether or not they have been adopted bwhethersoranotttheyhhaveebeendadoptedhbydothersLladaptedsdescendentsnanddtheirldescendantsf the natural parents and their descendents, and step-descendants. "Siblings" are defined as individuals who have at least one parent in common with the decedent, whether by blood or adoption. The Collateral class of heirs includes all other beneficiaDEBTS AND DEDUCTIONS CLAIMED CLAIMED DEDUCTIONS - PART 3 - Allowable debts and deductions are determined as follows: A. You are legally responsible for payment, or the estate subject to administration by a personal representative is insufficient to pay the deductible items. B. You actually paid the debts after the death of the decedent and can furnish proof of pavmen . C. Debts being claimed must be itemized fully in Part 3. If additional space is needed, use B 1/2" x 11" sheet of paper. Proof of payment may be requested by the PA Department of Revenue. TAXPAYER ASSISTANCE IF YOU NEED FURTHER INFORMATION OR ASSISTANCE, CONTACT ANY REGISTER OF WILLS, PA DEPARTMENT OF REVENUE DISTRICT OFFICE OR THE BUREAU OF INDIVIDUAL TAXES, AT C'717J 787-8327• SERVICES FOR TAXPAYERS WITH SPECIAL HEARING AND/OR SPEAKING NEEDS ONLY: 1-800-447-3020.