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HomeMy WebLinkAbout07-01-05 CoMMoMWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 2B0601 HARRISBURG, PA 17128-0601 *' INFORMATION NOTICE AND TAXPAYER RESPONSE FILE NO. 21 05-0129 ACN 05120507 DATE 05-31-2005 REV-1Sli5 EX AFP (09-00) EST. OF SYBILLA E GROVE 5.5. NO. 187-50-0084 DATE OF DEATH 02-03-2005 COUNTY CUMBERLAND TYPE OF ACCOUNT D SAVINGS D CHECKING D TRUST [Xl CERTIF. ** AQUILLA R LICK BOX 104 911 GRANTHAM RD GRANTHAM PA 17027 REMIT PAYMENT AND FORMS TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 PNC BK has provided the Departllsnt with the information listed below which has been used in calculating the potential tax dUe. Their records indicate that at the death af the above decedent~ you were a joint owner/beneficiary of this account. If you feel this infor.ation 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 P...i-.o.;i::,.lvEilii6. Qu:;;::;t.icn~ c:ay bG ~r;Gworod =:.: c;;;:;lli~S (717) 787-83?:7_ Date Established REVERSE SIDE FOR 12-15-2004 FILING AND PAYMENT INSTRUCTIONS COMPLETE PART 1 BELOW . Account No. 31000250166 . . SEE x 7,034.42 100.00 7,034.42 .045 316.55 To insure proper credit to your account~ two (2) copies of this notice must accompany your payment to the Register of Wills. Make check payable to: "Register of Wills~ Agent". Account Balance Percent Taxable Amount Subject to Tax Tax Rate Potentiel Tax Due x NOTE: If tax payments are made within three (3) months of the decedent.s date of death~ you may deduct a 57. discount of the tax due. Any inheritance tax due will become delinquent nine (9) .onths after the date of death. PART TAXPAYER RESPONSE IT] 1!!i:::ltiOO~.~:ml:!i!!l:II~_i!!!:li~!!!!i!i.e~iiii!~li:!:!!!:ii.~OO~!OO~:!:i:~~I!ii!~~~.mIM.!i!'i~liili.~~i:i!!.OOm!:!::1 [CHECK ] ONE BLOCK ONLY A. [] The above information and tax due is correct. 1. You ..y choose to remit 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 Department of Revenue. B. ~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 information is incorrect and/or debts and deductions were paid by you. You must complete PART ~ and/or PART ~ below. TAX ON JOINT/TRUST ACCOUNTS PART ~ TAX RETURN - COMPUTATION If you indicete a different tax rate, please state your relationship to decedent: LINE 1. Cats ~stablis~ed 2. Account Balance 3. Percent Taxable ~. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate 8. Tax Due OF 1 2 3 ~ 5 6 7 8 x x PART ~ DATE PAID PAYEE DESCRIPTION AMOUNT PAID I TOTAL (Enter on Line 5 of Tex Computation) I $ Under penalties of complete to the best of perjury, I declare that the my, k'}Ywledge ancl.. belief. 'K ~ <-.8.- facts I have reported above are true, correct HOME ( 7 t7) "9 7 - ~ r !3 $/ WORK ( ) -- TElEPHONE NUMBER and C.r-aS DATE ~ 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. InhsritancB tax becomes delinquent nine months after the decedent's date of death. 3. A joint account is taxable even though the decedent's name was added as a matter of convenience. 4. Accounts (including those held between husband and wife) which the decedent put in ioint names 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. Accounts held by a decedent "in trust for" another or others are taxable fully. REPORTING INSTRUCTIONS - PART 1 - TAXPAYER RESPONSE 1. BLOCK A - If the information and computation in the notice are correct and deductions a~e not being claimed" place an "X" in block nAn of Part 1 of the nTaxpaye~ 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 (Form REV-l548 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 decedent.s representative" place an "X" in block .'B" of Part I 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 ths envelope provided. 3. BLOCK e - If the notice info~.ation is incorrect andlor deductIons are beIng claImed, check block "e" and complete Parts 2 and 3 according to the instructions below. Sign two copies and submit them with you~ 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 NOTE: the date the account originallY was established or titled in the manner existing at date of death. For a decedent dying afte~ 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 ths account or the number of accounts hsld. 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 tha 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 more than one year prior to the decedent's death: OIVIDED BY TOTAL NUMBER OF DIVIOEO BY TOTAL NUMBER OF X 100 PERCENT TAXABLE JOINT OWNERS SURVIVING JOINT OWNERS Example: A joint asset ~egistered in the name of the decedent and two other persons. 1 OIVIDED BY 3 (JOINT OWNERS) DIVIDED BY 2 (SURVIVORS) = .167 X 100 16.770 (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 OIVIOEO BY TOTAL NUMBER OF SURVIVING JOINT OWNERS OR TRUST BENEFICIARIES X 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 OIVIDED BY 2 (SURVIVORS) = .50 X 100 SOX (TAXABLE FOR EACH SURVIVOR) 4. The amount subject to tax (line 4) is determined by multiplying the account balance (line 2) by the percent taKable (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 determined below. MThe tax ~at. Imposed on the net value of transfers from a decsased child twenty-one years of age Dr younger at death to or.for the use of a natural parent, an adoptive parent, or a stepparent of the child is 07.. The lineal class of heirs includes grandparents, parents, children, and lineal descendents. "Children" includes natural children whethgr or not they have been adopted by others" adopted children and step children. "Lineal descendents'. includes aU 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 et leest one parent in common wIth the decedent, whether by blood or adoption. The "Collateral" class of heirs includes all othe~ beneficiarIes. Date of Daath Spousa Lineal Sibling Collateral 07/01/94" to 12/31/94 3X 6X 15X 15X 01/01/95 to 06/30/00 Ox 6X 15X 15X 07101/00" to present OX 4.5Xlf 12X 15X CLAIMED DEDUCTIONS PART 3 DEBTS AND DEDUCTIONS CLAIMED Allowable debts and deductions are determined as follows: A. You legally are 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 de~th of the decedent and can furnish proof of payment. C. Debts bein~ claimed gust be itemized fully in Part 3. If additional space is needed" use plain paper 8 1/20 x II". Proof of payment may be requested by the PA Department of Revenue.