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HomeMy WebLinkAbout11-15-11 (2)BUREAU OF INDIVIDUAL TAXES PD BOX 280601 pennsylvam~ HARRISBURG PA 17128-0601 DEPARTMENT OF REVENUE REY•1545 E% aFP (15-11) PENNSYLVANIA INHERITANCE TAX (~/'nr}r r.I NFORMATION NOTICE FILE N0. 21 11-0083 ~~' `w~ OFAND '~ ~ ~~ - fiAXR!~~ER RESPONSE ACN 11003602 ~~..~, DATE 11-08-2011 (~ I i tau ~' 15 PIS! I : ~ ry/ EST. OF JUDITH E POGUE C~E~r~~~ DATE OF DEATH04o101142011 Oa~pt~~+~'(~hC~ryryu~Tr~,t COUNTY CUMBERLAND Cl1ti~~'f~~I-,4"'VD ~lJ„ P/'tREMIT PAYMENT AND FORMS TO: CODY E WOOLLETT REGISTER OF WILLS 61 W. MAIN STREET 1 COURTHOUSE SQUARE PO BOX 56 CARLISLE PA 17013 NEW KINGSTOWN PA 17072-0056 TYPE OF ACCOUNT ^ snvlNGs ^ CHECKING ^ TRUST ^ CERTIF. LINCOLN provided the department with the information below, which was used in calculating the inheritance tax due. Records indicate that at the death of the above-named decedent, you were a point owner/benef4cta ry of this account. If y0U are the spouse Of the deceased and any amount other than zero is reflected below on the Potential Tax Due line, note no tax may be due, but you must notlly the department of your relationship to the deceased by checking Box C in PART 1 below and writing "spouse" in PART 2. If you believe the information is incorrect, Dl ease obtain written correction from the financial institution, attach a copy to this form and return it to the aboveadtlress. Please call 717-787-8327 with questiDns. COMPLETE PART 1 BELOW * SEE REVERSE SIDE FOR FILING AHD PAYMENT INSTRUCTIONS account No. 924473096 Account Balance Percent Taxable Amount Subject to Tax Tax Rate Potential Tax Due Date 01-11-2011 Established $ 4,309.57 X 100.00 $ 4,309.57 X .045 $ 193.93 To ensure proper credit to th• account, two copies of this notice must accompany payment to the Register of Wills. Make cheek payable to "Register of Wills, Agent". NOTE: If tax payments ere made within three months of tho decedent's data of death, deduct a 5 percent discount on the tax due. Arty inheritance tax due will become dalinquont nine months after the date of doath. PaT TAXPAYER RESPONSE 1 A. h[l,The abovo information and tax due is correct. ~~7' Romit payment to the Rogister of Wills with two copies of this notice to obtain CHECK a discount or avoid interest, er return this notice to the Rogirtor of Wills and ONE an official assesswent will ba issued by the PA Doaartment of Revenue. BLOCK B. ^ The above asset has been or will be reported and tax paid with the Pennsylvania inheritance tax return ON L Y filed by the estate representative. C. ^ Tha above info a eon is incorr a and/or debts and deductions were paid. Comvlete PART ~ and/or PARTbelow. PART If indicating a different tax rate, please state relationship to decedent: TAX RETURN - CALCULATION OF TAX ON JOINT/TRUST ACCOUNTS LINE 1. Date Established 1 2. Account Balance 2 3. Percent Taxable 3 X 4. Amount Subject to Tax 4 S 5. Debts and Deductions 5 - 6. Amount Taxable 6 ~ 7. Tax Rata 7 X 8. Tax Due 8 $ PART DEBTS AND DEDUCTIONS CLAIMED ^3 DATE PAID PAYEE 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 antl wife) the decedent Dut 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 calculation 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 subwit them Yith 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 CFq rw REV-1548 IX) 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 two copies and return to the register of wills of the county indicated. 3. BLOCK C - If the notice informatf on 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 then with your check for the amount of tax payable to the register of wills of the county indicated. Tha PA Department of Revenue Yill issue an official assessment (Form REV-1548 IX) upon receipt of the return from the register of wills. TAX RETURN - -PART 2 - TAX CALCULATION LINE 1. Enter the data the account originally was established or titled in the manner existing at date of death. NOTE: For a decadent who died after l2/12/82, accounts the decedent vut in ioint names within ono year of death are fully taxable. However. there is en exclusion not to exceed 03,000 per transferee, regardless of the value of the account or the number of accounts held. If a double asterisk fwy) appears before your first name in the address portion of this notice. the 03,000 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 data of death. 3. Tha percentage of the account that is taxable to each survivor is date rmined as follows: A. The percentage taxable of joint assets established more than one Year prior to the decedent's death: I DIVIDED BY TOTAL NUMBER OF DIVIDED BY TOTAL NUMBER OF MULTIPLIED BY 100 = PERCENT TAXABLE JOINT O4INERS SURVIVINGJOINT OWNERS Example: A joint asset registe rod in the name of the deeetlent and two other persons: 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) .167 X 100 = 16.7 percent (TAXABLE TD 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 TOTAL NUMBER OF SURY IV ING 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 near of death by the decedent. 1 DIVIDED BY 2 (SURY IVORS> _ .50 X 100 = 50 percent (TAXABLE FOR EACH SURVIVOR) 4. The amount subject to tax (Line 4) is deterwinetl by wultiDlvinp 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 (Line 6) is determined by subtracting the debts and deductions (Line 5) from the amount subject to tax Cline 4). 7. Enter She aDDroDriate tax rate (Line 7) as deterained below. .The tax rate imposed on the mat value of transfers from a deceased child 21 years of age or younger at death to or for the use of a natural parent, an adoptive pa rant 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 boon adoDtetl DY others, adopted children and stop children. "Lineal descendents" includes all children of the natural parents antl Chair descendents, whether or not they have boon 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: 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 0 percent 4.5 percent ~ 12 percent 15 percent A. You are legally resvonsible for paywent, or the estate subject tq adwinistration by a personal representative is insuff is lent 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 wust be itemized fully in Part 3. If additional space is needed, use 8 1/2•' x I1" sheet of paper. Proof of paywent way be requested by the PA Department pf Revenue.