The Orphans’ Court Procedural Rules Committee has proposed removing the Estate Information Form, RW-01 (REV-346) from the index and appendix of Register of Wills forms. The report of the committee states that the form is a Department of Revenue form … Continue reading
Tag Archives: Inheritance Tax
Section 41 of the Act of October 30, 2017, No. 43, extends by one year the due date for inheritance tax returns that claim an agricultural or small business exemption from inheritance tax. Specifically, section 41 of the Act amends … Continue reading
Somewhat to my surprise, a bill in the Pennsylvania legislature that would reduce the inheritance tax to 0% for transfers to children under the age of 21 (HB 291) has made it out of committee and received its first consideration. … Continue reading
Animals are not “persons” within the meaning of § 2116(a)(2) of the Inheritance and Estate Tax Act, 72 P.S. § 9116(a)(2), and so a “honorary trust” (see 20 Pa.C.S. § 7738) established for the benefit of horses is not subject … Continue reading
The Pennsylvania Department of Revenue has published 2017 Tax Amnesty Program Guidelines, 46 Pa.B. 5856 (9/10/2016), in accordance with Act 84 of 2016. The program begins April 1, 2017, and inheritance tax liabilities owed on or before December 31, 2015 … Continue reading
Sections 45 and 47 of the Act of July 13, 2016, No. 84, (H.B. 1198), made several changes to the inheritance tax exemptions for agricultural property and family-owned businesses, sections 2111(s), (s.1) and (t), and section 2130(5), of the Tax … Continue reading
An unliquidated personal injury action is not a “future interest” within the meaning of section 2116(c) of the Inheritance and Estate Tax Act (72 P.S. 9116(c)) and so disclaimers filed more than nine months after death were not effective for … Continue reading
Estate’s payment of inheritance on individual retirement accounts was proper when will directed that “all taxes that may be assessed in consequence of my death” be paid “from my residuary as a part of the expense of the administration of … Continue reading
Direction in will that all estate, inheritance, and other death taxes be paid “out of and charged against my estate” overcame statutory direction that inheritance tax be paid from shares of estate subject to tax, and not from charitable shares. … Continue reading