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Home My WebLink About09-07-05 1 ! COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF REVENUE BUREAU OF INDIVIDUAL TAXES DEPT. 280601 HARRISBURG, PA 17128-0601 *' INFORMATION NOTICE >"'.. AND ~TAXrp.. ,'Avea:';,-R-ESPONS E "'. '...: , ., "'."_ 1 FILE ACN DATE NO.2 o o 05o~ 124465 -02-2005 REV-1545 EX iFP 109-001 DANIEL W MULL 201 BIRCH LN CARLISLE PA 17013 TYP OF ACCOUNT -E~T F'Op-"JOv.cE L MULL 0 SAVINGS s.s~ 'NO: J I 176-34-9052 [X] CHECKING - :-:-I)ATE OF DEATH 03-13-2005 0 TRUST COUNTY, CUMBERLAND 0 CERTIF. REMIT PAYMENT AND FORMS TO: REGISTER OF WILLS CUMBERLAND CO COURT HOUSE CARLISLE, PA 17013 SOVEREIGN BANK has p..ovided the Depa..tment with the info..mation listed below which has been used' in calculating the potential tax due. Thei.. ..eco..ds indicate that at the death of the above decedent, you we..e a joint owne../~eneficia..y of this account. If you feel this info..mation is inco....ect, please obtain w..itten co....ection f..om the financial institution, attach a COPy to this fo..m and ..etu..n it to the above add..ess. This account is taxable in acco..dance with the Inhe..itance Tax Laws of t~e Commonwealth of Pe~n~ylvanic. Qucsticns may be ensw2red by :311ir.g (717) 787-9327. COMPLETE PART 1 BELOW . . . SEE REVERSE SIDE FOR FILING AND PAYMENT INSTRUCTIONS Account No. 0771026935 Date 10-27-1990 To insu..e p..ope.. c..edit to you.. acC:Ount, two Established (2) copies of this notice must acco!npany you.. payment to the Registe.. of Wills. Maka chack payable to: "Ragister of Wills, Agent". Account Balance Parcent Taxable Amount Subject to Tax Rate Potential Tax Due x 4,592.21 50.000 2,296.11 .15 344.42 TAXPAYER RESPONSE NOTE: If tax payments a..e made wit~in th..ee (3) months of the decedent.s date of death, yoU may deduct a 57. discount of theltax due. Any inhe..itance tax due will becomeldelinqUent nine (9) months after the date of death. Tax x PART m [CHECK ] ONE BLOCK ONLY A. c=J The above information and tax due is cor..ect. 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 "An and ..etu..n this notice to the Reg.ster of Wills and an official assessment will be issued by the PA Department of Revenue. B. c=J The above asset has been 0.. will be ..epo..ted and tax paid with the PennSYlvania Inheritance lax retu..n to be filed by the decedent's ..ep..esentative. C.~The above information is incor..ect and/o.. debts and deductions were paid by you. ~YoU must complete PART ~ and/o.. PART ~ below. If you indicate a different tax rate, please state your relationship to decedent: PART [!] TAX RETURN - COMPUTATION OF TAX ~ ~..?/TRUST ACCOUNTS LINE 1. Data Established 1 / ~ '/9' 90 2. Account Balance 2 0..s- Y.:2... ..:l. / 3. Percent Taxable 3 X ~ 4. Amount Subject to Tax 4 ~ 94 / J 5. Debts and Deductions 5 - ") '? ~ 7 ,0& 6. Amount Taxable 6 -~ 7. Tax Rate 7 X ~~ 8. Tax Due 8 ~ PART I!J DATE PAID PAYEE DESCRIPTION AMOUINT TOTAL (Enter on Line 5 of Tax Computation) $ Under penalties of perjury, I declare that the facts I are true, correct Iland complete to the best of my knowledge and belief. GENERAL INFORMATION 1. FAILURE TO RESPOND WILL RESULT IN AN OFFICIAL TAX ASSESSHENT with applicable interest based on information submitted by the financial institution. Z. 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. Accounts established jointly between husband and wife more than one year prior to death are not taxable. 6. Accounts held by a decedent nin 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 are not being claimed, place an nxn in block nA" of Part 1 of the nTaxpayer Responsen 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-1548 EX) upon receipt of the return from the Register of Wills. Z. 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 1 of the nTaxpayer Response" section. Sign one copy and return to the PA Department of Revenue, Bureau of Individual Taxes, Oept Z8060l, Harrisburg, PA l71Z8-060l in the envelope provided. 3. BLOCK C _ If the notice information is incorrect and/or deductions are being claimed, check block ncn and complete Parts Z 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 (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 after lZ/lZ/8Z: 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 number 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. Z. 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: 1 DIVIDED BY TOTAL NUMBER OF DIVIDED BY TOTAL NUMBER OF X 100 PERCENT TAXABLE JOINT OWNERS SURVIVING JOINT OWNERS Example: A joint asset registered in the name of the decedent and two other persons. 1 DIVIDED BY 3 (JOINT OWNERS) DIVIDED BY Z (SURVIVORS) = .167 X 100 16.77. (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 in the name of the decedent and two other persons and established within one year of death by the decedent. 1 DIVIDED BY Z (SURVIVORS) = .50 X 100 507. (TAXABLE FOR EACH SURVIVOR) 4. The amount subject to tax (line 4) is determined by multiplying the account balance (line Z) 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 determined 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 07.. The lineal class of heirs includes grandparents, parents, children, and lineal descendents. "Childrenn includes natural children whether or not they have been adopted by others, adopted children and step children. nLineal 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. "Siblingsn are defined as individuals who have at least one parent in common with the decedent, whether by blood or adoption. The "Collateraln class of heirs includes all other beneficiaries. Date of Death Spouse Lineal Sibling Collateral 07101194 to 12/31/94 3% 6% 15% 15% 01/01/95 to 06/30/00 0% 6% 15% 15% 07101/00 to present 0% 4.5%. 12% 15% 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 death of the decedent and can furnish proof of payment. C. Debts being claimed must be itemized fully in Part 3. If additional space is needed, use plain paper 8 l/zn x II". Proof of payment may be requested by the PA Department of Revenue.