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Home My WebLink About04-14-05 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 *' INFORMATION NOTICE AND ~AXPAYERRES~ONSE FILE ACN DATE NO.21 05 3'-0 05105568 02-23-2005 REV-lSOUAFP 109-00l ** LISA S BRUNDZo 30 BRIARCLIFF DR SHIPPENSBURS PA 17257 c ell REMIT PAYMENT AND RESISTER OF WILLS CUMBERLAND CO COURT CARLISLE, PA 17013 TYPE OF ACCOUNT o SAVINGS o CHECKING o TRUST IX] CERTIF. FORMS TO: z::: EST. OF WIUI-I\M E HILE 5.5. NO~ ~i79-12-5635 DATE OF DEATH 10-16-2004 COUNTY CUMBERLAND HOUSE ORRSTOWN BANK has provided the Department with the information listed below which has been used in calculating the potential tax due. Their records indicate that at the death of the above decedent, YOU were a joint owner/beneficiary of this account. If you feel this inforNation is incorrect, please obtain written correction frON the financial institution, attach a COpy to this forg and return it to the above address. This account is taxable in accordance with the Inheritance Tax Laws of the Comgonwealth of Pennsylvania. Questions day be answered by calling (717) 787-8327. CO"PLE~E PART 1 B~LOW . . . S~~ K~v~RSE 5i~E FOR rILinG ANu PAYMENT INSTRUCTIONS Account No. 4000003160 Date Established 02-10-2004 To insure proper credit to your account, two (2) copies of this notice dust acco.pany your payment to the Register of Wills. Make check payable to: "Register of Wills, Agent". Account Balance 2,004 . 44 Percent Texeble X 100 . 00 Allount Subject to Tax 2,004 . 44 Tex Rete X .045 Potential Tax Due 90.20 PART TAXPAYER RESPONSE [!]ili!illl~~III!~!l!1i~!,:,:,:,:,:,:,:i:';,:,:,:,:,:,:,:,:Iliil~~~ili!i"~ill!!~I!!il.!III.!~~I~.IIII!~.III!~~_il!IIml!III.li~.~I!!!I.~~II!i~, NOTE: If tax pay.ents are Nade within three (3) Nonths of the decedent's date of death, you Nay deduct a 5~ discount of the tax due. Any inheritance tax due will become delinquent nine (9) months after the date of death. [CHECK ] ONE BLOCK ONLY A. The above infor.ation and tax due is correct. 1. You .ay choose to re.it payment to the Register of Wills with two copies of this notice to obtain a discount or avoid interest, or you may check box "A" and return this notice to the Register of Wills and an official assessment will be issued by the PA DepartNent of Revenue. 8. c=J The above asset has been or will be reported and tax paid with the Pennsylvania Inheritance Tax return to be filed by the decedent's representative. C. c=J The above inforNation is incorrect and/or debts and deductions were paid by you. You .ust cONplete PART 0 and/or PART @] below. X PART ~ TAX RETURN - COMPUTATION If you indicate a different tax rate, pleasa state your relationship to decedent: t!NF 1_ Oats E~tabllshed 2. Account Balance 3. Percent Taxable 4. A.ount Subject to Tax S. Debts and Deductions 6. Allount Taxable 7. Tax Rat. 8. Tax Due OF TAX ON JOINT/TRUST ACCOUNTS I 2 3 4 5 6 7 8 X PART [!J DATE PAID DEBTS AND DEDUCTIONS CLAIMED PAYEE DESCRIPTION AMOUNT PAID I TOTAL (Enter on Line 5 of Tax Co~utation) facts I have reported above HOME ( '/') WORK ( ) TE EPHoNE NUMBER \>-- I $ end TAX DATE GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSHENT with applicable lnterast bSS8d on infar.ation sub.itted by the financial institution. 2. Inheritance tax becomes delinquent nina Months after the decedent"s date of death. 3. A joint account is taxable evan though the decedent.s namB was added 8S a .attar of convenience. 4. Accounts (including those held between husband and wife) which the decedent put in joint na.es within one year prior to death are fully taxable as transfers. 5. Accounts established jointly between husband and wife more than one year prior to death are not taxable. 6. AccDunts held by a dBCBdent "in trust for" another or others are taxable fully. REPORTING INSTRUCTIONS - PART 1 TAXPAYER RESPONSE 1. BLOCK A - If the infor.ation and co.putation in the notice are correct and deductions are not being clai_ed~ place an "X" in block "A" of Part 1 of the "Taxpayer Response" section. Sign two copies and submit them with your 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 (For. 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 flIed by the decedent.s representative~ place an "X" in block "B" of Part 1 of the "Taxpayer Response" section. Sign one COPy and return to the PA Department of Revenue~ Bureau of Individual Taxes~ Dept 280601~ Harrisburg~ PA 17128-0601 in the envelope provIded. 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 (For. REV-1548 EX) upon receipt of the return from the Register of WIlls. TAX RETURN - PART 2 - TAX COMPUTATION LINE 1. Enter NOTE: the date the account originallY was established or tItled in the manner existing at date of death. For a decedent dying after 12/12/82: Accounts which the decedent put in joint names within one (1) year of death are taxable fully as transfers. However~ there is an exclusion not to exceed $3~000 per transferee regardless of the value of the account or the nu.ber of accounts held. If a double asterisk (MM) appears before your first name in the address portion of this notice~ the $3~000 exclusion already has been 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 percent of the account that is taxable for each survivor is determined as follows: A. The percent taxable for joint assets established .ore than one year prior to the decedent.s death: I DIVIDED BY TOTAL NUMBER OF JOINT OWNERS Example: A joint asset registered DIVIDED BY TOTAL NUMBER OF X 100 PERCENT TAXABLE SURVIVING JOINT OWNERS in the na.e of the decedent and two other persons. 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) ; .167 X 100 16.7% (TAXABLE FOR EACH SURVIVOR) B. The percent 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 SURVIVING JOINT OWNERS OR TRUST BENEFICIARIES X 100 PERCENT TAXABLE Example: Joint account registered the decedent. 1 DIVIDED BY 2 (SURVIVORS) ~ .50 in the na.e of the decedent and two other persons and established within one year of death by X 100 50% (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 (line 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 deter_ined below. MThe tax rate lmposed on the net value of transfers from a deceased Chlld twenty one years 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%. The lineal class of heirs includes grandparents~ parents~ children~ and lineal descendents. "Children" includes natural children whether or not they have been adopted by others~ adopted chlldren 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 dBcedent~ whether by blood or adoption. The "Collateral" class of heirs includes all other beneficiaries. Oat. of Death Spouse Lineal Sibling Collateral 07/01/9~ to 12/31/1lJ't 3Y. 67- 15;: 157- 01/01/95 to 06/30/00 OX 6X 15X 15X 07/01/00 to present OX 4.5X- 12X 15X - CLAIMED DEDUCTIONS - PART 3 DEBTS AND DEDUCTIONS CLAIMED Allowable debts and deductions are determined as follows: A. You legally are responsible for pay.ent~ or the estate subject to administration by a personal representative is insuffIcient to pay the deductible items. B. You actually paid the debts after death of the decedent and can furnish proof of pay.ent. C. Debts being claimed must be Itemized fully in Part 3. If additional space is needed~ use plain paper 8 1/2" x 11". Proof of paYMent may be requested by the PA Department of Revenue.