Loading...
HomeMy WebLinkAbout08-19-05 COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 F',...'" ,[lA" INFORMATION NOTICE 0-' AND l }" TAXPAYER RESPONSE FILE NO. ACN DATE 21 05 - O(3~ 05136430 08-05-2005 ~;'.i;';'~~~, 'EJ{-lFP -t;'-;o~>! ...', c EST. OF WINNIE F STONER S.S. NO. 182-22-7086 DATE OF DEATH 05-13-2005 COUNTY CUMBERLAND TYPE OF ACCOUNT D SAVINGS [X] CHECKING D TRUST D CERTIF . "'!n~',. V'1 , t' I S P :j 1: ! 0 KATHLEEN J KILMER 200 YALE RD DUBOIS PA 15801 REMIT PAYMENT AND FORMS TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 MEMBERS 1ST FCU 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 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 PennS'~l"ania. QUQstj"n~ may he answered by calling (717) 787-8327. COMPLETE PART 1 BELOW . . . SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 153029-11 Date 07-25-1995 Established x 348.80 8.333 29.07 .045 1. 31 TAXPAYER RESPONSE 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 Rate Potential Tax Due x NOTE: If tax payments are made within three (3) months of the decedent's date of death, you may deduct a 5% discount of the tax due. Any inheritance tax due will become delinquent nine (9) months after the date of death. Tax PART [!J A. [ CHECK ] ONE BLOCK B. ONLY c. [] The above information and tax due is correct. 1. You may 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. [] 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. ~ The above information is incorrect and/or debts and deductions were paid by you. ~ You must complete PART ~ and/or PART ~ below. PART [!J TAX RETURN - COMPUTATION LINE 1. Date Established 2. Account Balance 3. Percent Taxable 4. Amount Subject to Tax 5. Debts and Deductions 6. Amount Taxable 7. Tax Rate 8. Tax Due OF TAX ON JOINT/TRUST 1_2.: 0<...,5 - 9..s 2 ~'f~So X ,D83 c:>l9,07 - lid. 0..3 D X ,D~6 o ACCOUNTS If you indicate a different tax rate, please state your relationship to decedent: 3 4 5 6 7 8 PART ~ DATE PAID PAYEE 7-IB-=IJY\ '/ rr..:i ,c,," <rAt J/aon t.1 TOTAL (Enter on Line 5 of Tax Computation) DEBTS AND DEDUCTIONS CLAIMED DESCRIPTION I- l...i J1 u-A' e... 'L -fJl:nCL AMOUNT PAID 1.3.;l7.DO $ Under penalties of perjury, I declare that the facts I complete to the best of my knowledge and belief. have reported above are true, correct and HOME (aI4) 0 7i - 17S....l WORK ( ) TELEPHONE NUMBER ~-IS-cS 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. Inheritance 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 joint names within one year prior to death are fully taxable as transfers. 5. AccDunts established jDintly between husband and wife more than Dne year priDr tD death are nDt taxable. 6. AccDunts held by a decedent "in trust fDr" anDther Dr Dthers are taxable fuUy. REPORTING INSTRUCTIONS PART 1 TAXPAYER RESPONSE 1. BLOCK A - If the infDrmatiDn and cDmputatiDn in the nDtice are cDrrect and deductiDns are nDt being claimed, place an "X" in block nAn of Part 1 of the "Taxpayer Response" section. Sign two copies and submit them with your check for the amount of tax tD the Register Df Wills of the cDunty indicated. The PA Department Df Revenue will issue an official assessment (FDrm REV-1548 EX) upDn receipt of the return frDm the Register of Wills. 2. BLOCK B - If the asset specified Dn this nDtice has been Dr 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 1 of the I'ITaxpayer Response" section. Sign one CDPY and return to the PA Oepartment Df Revenue, Bureau Df Individual Taxes, Oept 280601, Harrisburg, PA 17128-0601 in the envelope provided. 3. BLOCK C - If the nDtice infDrmatiDn is incDrrect and/Dr deductiDns are being claimed, check blDCk "C" and cDmplete Parts 2 and 3 accDrding tD the instructiDns belDW. Sign tWD cDpies and submit them with YDur check for the amDunt Df tax payable tD the Register Df Wills Df the county indicated. The PA Department Df Revenue will issue an Dfficial assessment (FDrm REV-1548 EX) upon receipt Df the return frDm the Register Df Wills. TAX RETURN PART 2 TAX COMPUTATION LINE 1. Enter NOTE: the date the accDunt Driginally was established Dr titled in the manner existing at date of death. FDr a decedent dying after 12/12/82: AccDunts which the decedent put in jDint names within Dne (1) year Df death are taxable fully as transfers. However, there is an exclusiDn not tD exceed $3,000 per transferee regardless of the value Df the accDunt Dr the number of accDunts held. If a dDuble asterisk (--) appears befDre YDur first name in the address pDrtiDn Df this notice, the $3,000 exclusiDn already has been deducted frDm the aCCDunt balance as repDrted by the financial institution. 2. Enter the tDtal balance Df the aCCDunt including interest accrued tD the date Df death. 3. The percent of the accDunt that is taxable fDr each survivor is determined as fDIIDws: A. The percent taxable fDr jDint assets established mDre than Dne year prior tD the decedent's death: 1 OIVIOED BY TOTAL NUMBER OF DIVIOED BY TOTAL NUMBER OF X 100 PERCENT TAXABLE JOINT OWNERS SURVIVING JOINT OWNERS Example: A jDint asset registered in the name Df the decedent and tWD other persons. 1 OIVIOEO BY 3 (JOINT OWNERS) OIVIDEO BY 2 (SURVIVORS) = .167 X 100 16.7% (TAXABLE FOR EACH SURVIVOR) B. The percent taxable fDr assets created within Dne year Df the decedent's death Dr accDunts Dwned by the decedent but held in trust fDr anDther individual{s) (trust beneficiaries): 1 OIVIOEO BY TOTAL NUMBER OF SURVIVING JOINT OWNERS OR TRUST BENEFICIARIES X 100 PERCENT TAXABLE Example: JDint accDunt registered in the name Df the decedent and two Dther persDns and established within one year Df death by the decedent. 1 DIVIOED BY 2 (SURVIVORS) = .50 X 100 50% (TAXABLE FOR EACH SURVIVOR) 4. The amDunt subject tD tax (line 4) is determined by multiplying the aCCDunt balance (line 2) by the percent taxable (line 3). 5. Enter the tDtal of the debts and deductiDns listed in Part 3. 6. The amDunt taxable (line 6) is determined by subtracting the debts and deductiDns (line 5) frDm the amount subject tD tax (line 4). 7. Enter the apprDpriate tax rate (line 7) as determined belDw. -The tax rate ImpDsed Dn the net value of transfers frDm a deceased ChIld twenty-one years Df age Dr younger at death tD or fDr the use of a natural parent, an adDptive parent, Dr a stepparent of the child is 0%. The lineal class Df heirs includes grandparents, parents, children, and lineal descendents. "Children" includes natural children whether Dr nDt they have been adDpted by Dthers, adDpted children and step children. "Lineal descendents" includes aU children Df the natural parents and their descendents, whether Dr nDt they have been adopted by Dthers, adDpted descendents and their descendants and step-descendants. "Siblings" are defined as individuals whD have at least Dne parent in CDmmDn with the decedent, whether by blDDd or adoption. The "Collateral" class of heirs includes all other beneficiaries. Date of Death Spouse lineal Sibling Collateral 07/01/94 to 12/31/94 3% 6% 1.57- 1.5% 01/01/95 to 06/30/00 0% 6% 15% 15% 07/01/00 to present 0% 4.5%1E 12% 15% CLAIMED DEDUCTIONS PART 3 DEBTS AND DEDUCTIONS CLAIMED AIIDwable debts and deductiDns are determined as fDIIDws: A. You legally are responsible for payment, Dr the estate subject to administration by a personal representative is insufficient tD pay the deductible items. B. YDU actually paid the debts after death of the decedent and can furnish prDDf Df payment. C. Debts being claimed must be itemized fuUy in Part 3. If additiDnal space is needed, use plain paper 8 112" xU". PrDDf Df payment may be requested by the PA Oepartment Df Revenue.