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HomeMy WebLinkAbout02-11-09 (3)BUREAU OF INDIVIDUAL TAXES PD BOX 280601 HARRISBURG PA 17128-0601 PENNSYLVANIA INHERITANCE TAX INFORMATION NOTICE --, ~ ~-A1VD FILE N0. 21 08-1139 TAXP/~YE4~ RESPONSE ACN 09101515 '' ~. •- •- -- DATE 01-15-2009 flEV-1543 E% AFP (OB-BB) ~~~° F~'~3 I I ~,~~ 1 1= 5 7 EST. OF WILLIAM E DENISON ~'' C^'% °`~ SSN 209-12-9403 ~~~ tJ.~~~p~ATE OF DEATH o8-20-2008 i ~ ~ 7 ~', CQUNTY CUMBERLAND C`~~ 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 TYPE OF ACCOUNT SAVINGS CHECKING TRUST CERTIF. 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 call (717; 767-8327 with questions. COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 68100408408874 Date 01-07-2000 To ensure proper credit to the account, two Established copies of this notice must accompany payment to the Register of Wills. Make check Account Balance $ 45, 860 • 38 payable to "Register of Wills, Agent". NOTE: If tax payments are made within three Percent Taxable X 50.000 Amount Subject to TaX ,ti` 22, 930.19 months of the decedent's date of death, deduct a 5 percent discount on the tax due. Tax Rate X ~ 1 5 Anv Inheritance Tax due will become delinquent Potential TaX Due $ 3,439.53 nine months after the date of death. PART TAXPAYER RESPONSE O FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL`TAX ASSESSMENT A. ^ The above information and tax due is correct. f this notice to obtain i Remit payment to the es o Register of Wills with two cop ister of the Re t g o a discount or avoid interest, or check box "A" and return this notice C H E C K Wills and an official assessment will be issued by the PA Department of Revenue. C ONE L 0 C K The above asset has been or will be reported and tax paid with the Pennsylvania Inheritance Tax return B 0 N L Y B. ~ to be fil ed by the estate representative. C. ® The above informs ion is ct and/or debts and deductions were paid. e incorr Com plete PART ~ and/or ~ r PART 3LJ below. PART If indicating a different ~ ifreate, please state relationship to decedent: TAX RETURN - COMPUTATION OF TAX ON JOINT/TRUST ACCOUNTS LINE 1. Date Established 1 1-7-0~ 2. Account Balance 2 $` 45,860.38 3. Percent Taxable 3 X .5~ 4. Amount Subject to Tax 4 $ 22 • 930.19 5. Debts and Deductions 5 0 6. Amount Taxable 6 $ 22,930.19 7. Tax Rate ~ X 8. Tax Due B $ ~ PAD OFFICIAL USE UrvLr LJ AAr PA DEPARTMENT OF REVENUE 1 2 3 4 5 G 7 8 Under penalties of perjury, I declare that the facts I have reported abov~e7 are true, correct and complete to the best of my knowledge and belief. HOME C ~~ / ~ ~ ~~ ~'~~~~ c~ '-> - WORK C ) L d ~/ TELEPHONE NIIMRFR ATF TAXPA ER SIGNATURE - PART DEBTS AND DEDUCTIONS CLAIMED _.___ ~._., onvcc DESCRIPTION AMOUNT PAID 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 taxable. 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 EXl 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/or 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 Department of Revenue will issue an official assessment (Form REV-1548 EX) upon receipt of the return from the register of 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 death. NOTE: For a decedent who died after l2/12/82, accounts the decedent put in joint names within one year of death are fully taxable. However, there is an exclusion not to exceed S3,000 per transferee, regardless of the value of the account or the number of accounts held. If a double asterisk (^<) 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 tp each survivor is determined as follows: A. The percentage taxable of joint assets established more than one year prior to the decedent's death: DIVIDED BY TOTAL NUMBER OF DIVIDED BY TOTAL NUMBER OF MULTIPLIED BY 100 = PERCENT TAXABLE JOINT OWNERS SURVIVING 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): I DIVIDED BY TOTAL NUMBER OF SURVIVING JOINT MULTIPLIED BY 100 = PERCENT TAXABLE OWNERS OR TRUST BENEFICIARIES 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 FOR EACH SURVIVOR) 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. 6. The amount taxable CLine 6) is determined by subtracting the debts and deductions (Line 5) from the amount subject to tax (Line 4). 7. Enter the appropriate tax rate (Line 7) as determined below.. Date of Death Spouse Lineal Sibling Collateral 07/01/94 to 12/31/94 3 percent 6 percent 15 percent 15 percent 01/01/95 to 06/30/00 0 percent 6 percent 15 percent 15 percent 07/01/00 to present ^The tax rate imposed on the 0 percent eet ai„o ..+ +..~.. 4.5 percent * ~c.,.... 12 percent 15 percent death to ar for the use of a natural parent, an adaptive parentVorVaystepparent~of theachild isu0nger at 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 by others, adopted children and step children. "Lineal descendents" includes all children of the natural parents and their descendents, whether or not they have been adopted by others; adopted descendents and their descendants; 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 beneficiaries. CLAIMED DEDUCTIONS - PART 3 - DEBTS AND DEDUCTIONS CLAIMED 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 payment. C. Debts being claimed must be itemized fully in Part 3. If additional space is needed, use 8 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 DTSTRICT OFF]:CE OR THE BUREAU DF INDIVIDUAL TAXES, AT C717) 787-8327. SERVICES FOR TAXPAYERS WITH SPECIAL HEARING AND'~`OR SPEAKING NEEDS ONLY: 1 -S~[i-4!47-320 .