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HomeMy WebLinkAbout07-30-09COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 RECEIVED FROM: PENNSYLVANIA INHERITANCE AND ESTATE TAX OFFICIAL RECEIPT MCNAUGHTON MECHELLE L 460 EVERGREEN ROAD NEW BLOOMFIELD, PA 17068 REV-1162 EX(11-96) NO. CD 01 1550 ACN ASSESSMENT AMOUNT CONTROL NUMBER fold ESTATE INFORMATION: SSN: 232-54-3132 FILE NUMBER: 2108-0894 DECEDENT NAME: THOMAS .10SEPH R DATE OF PAYMENT: 07/30/2009 POSTMARK DATE: 07/30/2009 COUNTY: CUMBERLAND DATE OF DEATH: 08/20/2008 101 ~ 52,804.27 TOTAL AMOUNT PAID: REMARKS: RECEIPT TO ATTY SEAL CHECK# 101 52,804.27 INITIALS: CJ RECEIVED BY: GLENDA EARNER STRASBAUGH REGISTER OF WILLS REGISTER OF WILLS Joffiv J. KRAI'SIG~ JR., INC. ATTORNEY-AT-LAW HARRISBURG, PENNSYLVANIA 171 f0-1281 2921 N. FRONT STREET TEL:717-236-2109 FAX: 7 17-236-0100 July 29, 2009 Office of Register of Wills of Cumberland County Cumberland County Courthouse Carlisle, Pennsylvania 17013 In Re: Estate of JOSEPH it. THOMAS Date of Death: 8/20/08 SS 232-54-3132 File #2108-0894 Dear Ladies: MEMBER PENNSYLVANIA BAR DISTRICT OF COLUMBIA BAR Pursuant to my conversation with your office of recent date, enclosed you will find the Advance Payment Worksheet in the above mentioned Estate. The Estate was completeci and Inheritance Tax paid several months ago, however, my client, the sole bene- ficiary, received the enclosed notice of an IRA Account in her father's name, which was not known to her when she administered the Estate. Therefore, I am enclosing her check in the amount of $2,804.27, to cover the advance Inheritance Tax due, w/interest. Please process the same accordingly and I am enclosing a self-addressed stamped envelope to send the receipt to my office. Thanking you in advance, I am, Very trul ours, ./'l,c ~ V John J. Krafs:ig, Jr. JJK/slsk Enclosures Copy: Mechele L. McNaughton Executrix and Beneficiary '~r(!C` Trustee's or Issuer's Name, Street Address, City, State and Zip Code MIDWEST BANK & TRUST COMPANY 1604 W COLONIAL PARKWAY INVERNESS, IL 60067 PENSION OPERATIONS 42S INQUIRIES CALL 1-312-822-5555 FAX 1-877-396-1990 JOSEPH R THOMAS 34 CIRCLE DRIVE CAMP HILL PA 17011 1399 THIS STATEMENT ISSUED IN LIEU OF 5498 IRA CONTRIBUTION INFORMATION 2^08 - 5~?'?8, IRA CONTr:I°UTIUN INFORrtATICtJ TYPE ACCOUNT NUMBER 5498 G400-528-062263 BOX 5 MARKET VALUE OF ACCOUNT BDX 7 ACCOUNT IS AN IRA TOTAL CONTRIBUTIONS Instructions to Participant 61,541.32 The information on Form 5498 is submitted to the Internal Revenue Service by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, and the fair market value of the account. For information about IRAs, see Pub. 590, Individual Retirement Arrangements (IRAs), and Pub. 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qual~ed Plans). Note: If you pos d making a contribution to your IRA, for example, due to a designated isaster, or repaid a qualified reservist distribution, the box to the left d box 10 should show a reason code, the amount of the contribution or repayment, and the year to which the payment was credited, 'rf applicable. Also, certain catk:h-up contributions made into an IRA by certain eligible S4Ct!nn AQ1/4)~13n n9rtfC1[,+ant^u 1~:^.II ~ Sf?4'JYn I•'? ifie t71£ni: .f30x.:ie° Pl~i. S.~iQ for more information. Accourrt number. May show an account or other unique number the payer assigned to distinguish your account. Box 1. Shows traditional IRA contributions for 2008 you made in 2008 and through April 15, 2009. These contributions may be deductible on your Form 1040 or 1040A. However, if you or your spouse was an active part~apant in an employer's pension plan, these contributions may not be deductible. This box does not include amounts in boxes 2-4 and 8-10. Box 2. Shows any rolover, including a direct rollover to a traditional IRA, or Roth IRA, or a qualified rollover contribution to a Roth IRA, you made in 2008. It does not show any amounts you converted from your traditional IRA, SEP IRA, or SIMPLE IRA to a Roth IRA. They are shown in box 3. See the Form 1040 or 1040A instructions for information on how to report rdlovers. If you have ever made any nondeductible contributions to your traditional IRA or SI=P IRA and you did not roll over the total distribution, use Form 8606, Nondeductible IRAs to figgure the taxable amount. If property was rolled over, see Pub. 590. For a qual'~ed rollover to a Roth IRA, also see Pub. 590. Box 3. Shows the amount converted from a traditional IRA, SEP IRA, or SIMPLE IRA to a Roth IRA in 2008. Use Form 8606 to figure the taxable amount. 00 Trustee's or Issuer's Federal Ident~cation Number 36-6076926 Participant's Social Security Number 232-54-3132 Box 4. Shows amounts recharacterized from transferring any part of the contribution (plus earnings) from one type of IRA to another. See Pub: 590. Box 5. Shows the fair market value of all investments in your account at yyeear end. However, if a decedent's name is shown, the amount reported may be the FMV on the date of death. If the FMV shown is zero for a decedent, the executor or administrator of the estate may request adate-of death value from the financial Institution. Box 6. For endowment contracts only, shows the amount allocable to the cost of lffe insurance. Subtract this amount from your allowable IRA contribution included in box 1 to carpute your IRA deduction. Bsx'?. M,ay shy •~r the ki^d o4 !RA rep: ted on this Fa'm 5496. Box 8. Shows SEP contributions made in 2008, including contributions made in 2008 for 2007, but not including k~ntributions made in 2009 for 2008. If made by your emmpployer, do Hat deduct on your income tax return. If you made the contriburtdhs as aself-employed person (or partner), they may be deductible. See Pub. 560. Box 9. Shows SIMPLE contributions made in 2008. Ifyomuade by your k~l butions as ads duel Yo a ~ e~~ p e~ture j Ifthey ma be e deductible. See Pub. 560. Box 10. Shows Roth IRA cattributions you made in 2008 and through April 15, 2009. Do not deduct on your income tax return. Box 11. If the box is checked, you must take a required minimum distribution (RMD) for 2009. An RMD may be required even 'rf the box is not checked. The amount, or offer to compute the amount, and date of the R MD will be furnished to you by January 31 either on Form 5498 (in the blank box to the left of box 10) or in a separate statement. If you don't take the RMD in 2008, you are sub~'ect to a 50% excise tax on the amount not distributed. See Pub. 590 for details. This information is being furnished to the Internal Revenue Service. Form 5498 (OMB No. 1545-0747). r IIIIIIIIIIIIIIII'IIIIIIIIIIIIIIIIIIIIIIIIII ~ 1 23 254 3 1 3206250004 1 FAIR For Calendar Year 00000041 00625 2008 w: _ , AEV-548 EX (7-03) INHERITANCE TAX JOINT BANK ACCOUNT COUNTY FILE NUMBER 21 08-0894 ADVANCE PAYMENT WORKSHEET INHERITANCE TAXRECEIPTNUMBER DECEDENTS NAME (LAST) (FIRST) (MIDDLE INITIAL) THOMAS JOSEPH R. DECEDENT DECEDENTS SOCIAL SECURITY NUMBER DATE OF DEATH 232-54-3132 08/20,/2008 INFORMATION ADDRESS OF DECEDENT CITY STATE ZIP 34 Circle Drive Camp Hill PA 17011 NAME OF FINANCIAL INSTITUTION Midwest Bank & Trust Company FINANCIAL ADDRESS CITY STATE ZIP INSTITUTION 1604 W Colonial Parkway Inverness IL 60067 INFORMATION TELEPHONE NUMBER (1-312) 822-5555 TYPE OF ACCOUNT ^ SAVINGS ^ CHECKING ^ TRUST ^ CERTIFICATE OF DEPOSIT ~I OTHER IRA ACCOUNT ACCOUNT BALANCE (INCLUDE INTEREST TO DATE OF DEATH) ACCOUNT NUMBER INFORMATION $61,541.32 G~0~ -528-062263 ACCOUNT TITLE AS APPEARS ON SIGNATURE CARD OR CD ORIGINAL DATE ESTABLISHED Joseph R. Thomas 8/1/1975 NAME (Last) (First) (Middle Initial) ~ - , , McNauahton r7echelle L. -' ADDRESS PfRCENTTAXABLE SURVIVING 460 Evergreen Road JOINT OWNER cITY STATE ZIP CODE INFORMATION Dlew Bloomfield PA 17068 RELATIONSHIP TO DECEDENT TELEPHONE NUMBER ~~t~ TAX RATE Daughter (7 ~7 ) SSa.-583 NAME (Last) (First) (Middle Initial) ADDRESS PERCENT TAXABLE SURVIVING JOINT OWNER CITY STATE ZIP CODE INFORMATION RELATIONSHIP TO DECEDENT TELEPHONE NUMBER ( ) TAX RATE NAME (Last) (First) (Middle Initial) SURVIVING ADDRESS PERCENTTAXABLf JOINT OWNER cITY STATE ZIP CODE INFORMATION RELATIONSHIP TO DECEDENT TELEPHONE NUMBER ( ) TAX RATE Date Paid Payee Description Amount Paid Note: Please attach to receipt Total $ INHERITANCE TAX JOINT BANK ACCOUNT ADVANCE PAYMENT WORKSHEET DIRECTIONS for REV 548 The Advance Payment Worksheet enables the taxpayer to report a specific jointly owned or other non-probate asset to the Department without the filling of an actual inheritance tax return form (REV 7500), and it also allows the taxpayer to qualify for 5% discount if payment is made within (3) three months following the decedent's date of death. WHO MAY USE THE ADVANCE PAYMENT WORKSHEET? 1. Surviving owners of jointly held assets. 2. Beneficiaries of "in trust for" (ITF) accounts. 3. Beneficiaries of other assets not subject to the administration of the decedent's estate by the personal representative. PLEASE FILL IN BLOCKS COMPLETELY SO THAT AN ACCURATE NOTICE OF ASSESSMENT CAN BE ISSUED, DECEDENT INFORMATION • decedent's legal name • social security number • decedent's date of death FINANCIAL INSTITUTION INFORMATION • name & address of bank or branch office • provide bank phone number if available ACCOUNT INFORMATION (LIST ONLY ONE ACCOUNT PER WORKSHEET) • Indicate type of account by checking appropriate box, if other, list specific type (only one account per worksheet). • Account balance at date of death (include interest in total). • Account number • Account title as appears on signature card (identify power of attomey, representative payee, attorney in fact, or PUGMA accounts, IRA's etc. where they may apply). • Original date the account was established in joint ownership. Provide signature cards, trust agreements, and other pertinent documents (if available). SURVIVING JOINT OWNER INFORMATION (USE SEPARATE BLOCK FOR EACH SURVIVING SPOUSE) • use legal names • social security numbers if known • current address • relationship to decedent to insure correct tax rates DEBTS & DEDUCTIONS If there are no probate assets and the surviving owner has actually ,paid specific items, they can be listed and deducted from the portion of the account balance subject to tax. These would include expenses directly related to the decedent's death such as funeral costs, refreshments following the funeral, flowers, cemetery plots and markers, engraving, etc. Provide appropriate documents to substantiate claims. After review by the Department, a formal notice of assessment will be returned to each individual owner indicating the final status of the particular asset that has been reported. Make checks payable to the REGISTER of WILLS, Agent, in the county of the decedent's LEGAL residence.