extension on inheritance tax & deduction

[jenny55555]

Thank you for your replies. Sorry, I guess I mean civil cases, but nothing about probate. I only know I called legal aid & everyone else under the sun & but they all said that they have no help for anything involving probate or estate matters. I did meet with a layer for a $25 consultation fee. It's not a complicated estate. I can do it, but I just have a few more questions. Like these.
When I apply to be executor tomorrow. How long do I have to advertise in the Legal Reporter & local paper? Does it have to be done the next day or do I have a couple of days to do it?
It says that I have to write & report her death to the public welfare office & attorney Genera.l I have no problem doing that, but I'm curious as to why people that were never on any kind of public assistance would have to do that? My mother was never on any type of assistance And why the Attorney General? I'm sure there is a good reason for this, but what is the reason? When filling out the form for executor do I include any checks that were not cashed in the total amount stating what she had? Or do I wait till I open an estate account for her & put them in the estate account and ad that amount them? I'm assuming that I'm supposed to add it that all together now on the form? Am I right about that?
If I have to amend the tax return later, is that an expensive thing to do? Does anyone know around how much it will cost to file this tax return? Just trying to get some sort of idea. I'm really pressed for time. I don't even have the $ to have my car fixed, so I hope it's very little!

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I know it may seem like I am being particular, but it is so important to me that I do everything the right way. And I really do appreciate your replies and help so much.

 

[LdiJ]

Thank you for your replies. Sorry, I guess I mean civil cases, but nothing about probate. I only know I called legal aid & everyone else under the sun & but they all said that they have no help for anything involving probate or estate matters. I did meet with a layer for a $25 consultation fee. It's not a complicated estate. I can do it, but I just have a few more questions. Like these.
When I apply to be executor tomorrow. How long do I have to advertise in the Legal Reporter & local paper? Does it have to be done the next day or do I have a couple of days to do it?
It says that I have to write & report her death to the public welfare office & attorney Genera.l I have no problem doing that, but I'm curious as to why people that were never on any kind of public assistance would have to do that? My mother was never on any type of assistance And why the Attorney General? I'm sure there is a good reason for this, but what is the reason? When filling out the form for executor do I include any checks that were not cashed in the total amount stating what she had? Or do I wait till I open an estate account for her & put them in the estate account and ad that amount them? I'm assuming that I'm supposed to add it that all together now on the form? Am I right about that?
If I have to amend the tax return later, is that an expensive thing to do? Does anyone know around how much it will cost to file this tax return? Just trying to get some sort of idea. I'm really pressed for time. I don't even have the $ to have my car fixed, so I hope it's very little!

Like Reply

I know it may seem like I am being particular, but it is so important to me that I do everything the right way. And I really do appreciate your replies and help so much.

It really does sound like you want someone to walk you through the process and we really cannot do that for you. I can tell you that if you google "filing an inheritance tax form PA" that you will get lots and lots of very good information on doing it.

 

[jenny55555]

It really does sound like you want someone to walk you through the process and we really cannot do that for you. I can tell you that if you google "filing an inheritance tax form PA" that you will get lots and lots of very good information on doing it.

Hi, thank you for your reply. This is not a complicated estate & I I can do this without a lawyer. I apologize if what I needed was misunderstood. I should have made what I wanted more clear. Sorry about that! I am definitely not looking for someone to take me through the probate process . I have all paperwork & everything I need. I just had a few questions about it. When I called legal aid, I was only calling to have a few questions answered by a lawyer about probate, but not to take me through the probate process. Thank you for the tips on what to look up & I will look up what you said. Thank you.

 

[jenny55555]

If her only income was Social Security then there won't be any federal or Pennsylvania income tax returns to worry about. There may be property tax to pay, but that's not going to materially affect the inheritance tax. You need to determine what her house and other assets would sell for. Creditors that are willing to just forget about it (write it off) don't need to get paid because they aren't going to make a claim against the estate. Add up all the stuff she had, the house, furniture, bank account, whatever, then subtract the bills you know need to get paid and use that number to figure the inheritance tax. Don't make it harder than it is. If you don't get it quite right you can amend the return later. But use the information you have now to get the return filed and paid on time. If her estate is only worth around $50,000 or so then the inheritance tax will not be very large, around $2,250.

My mother left the house to my sister and I in her will. Question about the sixThe deadline is tomorrow. I am all ready to file it, but my sister & I do not have the money to pay this all at once. It's around $2,400 or close after all paperwork Etc was done. Everything took much longer than I thought. Trying to get a loan from the bank but not sure if I'll be approved and I would still need to file the extension because even if I get the loan I won't make it in time. Will definitely have to file the six-month extension. What do the tax people consider good cause when asking for an extension? Is financial hardship considered good cause for the extension? My sister and I have very low incomes. We can pay it, but just not all at once. I'm also confused because I heard that they charge interest from the day after it is due, but then I heard that you are automatically charged $1,000!!!, whitch is scary to meI want to try to pay it off before the 6 months if I can. Do my sister & I have to wait until the whole inheritance tax is paid before we can put the dead to the house in our names, or can we have it changed while we're making the payments? I'm asking this because we have to pay the yearly and school tax by or in December. The house is still in our mother's name. The problem with that is that if we pay it in her name we won't be eligible for the rebate next year. That is so important to us because we both have pretty low incomes.

 

[jenny55555]

"The tax on property passed to children or grandchildren of the decedent is 4.5%. The tax is reduced by 5%, though, if you pay it within 3 months of

the date of death, which means it's too late now for you to get that discount."
Taxing Matters, according to your post no tax is owed at all if payed within 90 days of death. 4.5%-5%= -.5%.

I have to file a 6-month extension. Do you know if I could put the deed in our names before finishing to pay the inheritance taxes? Or can we put the deed in our names while we're paying during the six-month extension? Our mom left the house to us in her will. Everything has been taken care of except this step of the estate tax. My sister and I live together and pay half and half for everything. We just can't afford to pay it all at once.