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posted on:
6/6/2011 8:33:35 AM EST
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Inheritance tax in Philadelphia
Michael J. Craig, Mike1040, Pennsylvania inheritance tax, Philadelphia
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My name is Michael J. Craig and I am a major tax preparer in the Philadelphia area. Over the last two decades I have prepared tens of thousands of tax return. My expertise is in federal ,state, Philadelphia, and Pennsylvania inheritance tax returns. Today I want to talk about Pennsylvania Inheritance returns. In Pennsylvania the Register of Wills is the office that processes inheritance tax returns. When a person dies they either have a will ( testate) or they die without a wall ( intestate) and the state law determines how their property is inherited. The personal representative is responsible for filing the inheritance tax return in either case. Some of the older terms used for the personal representative are Administrator or Administratrix in the case of no will and Executor or executrix when there is is will. The tax is due. In Pennsylvania the amount of the tax is based on the relationship of the beneficiary to the deceased. A special zero tax rate pertains to a surviving spouse. Even though the rate is zero, the surviving spouse must still file the inheritance tax return. Other close relatives may pay as little as 4.5%, or in the case on non-relatives as much as 15 percent. If this paperwork can be done within three months there are some discounts available. In any event within nine months this tax must be paid or stiff fines start to accumulate. I can be reached at 267-345-0260 or on line at www.mike1040.com . If you're in the Philadelphia area don't hesitate to call.
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