Transcription of Inheritance Tax General Information (REV-720)
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Inheritance Tax General Information (REV-720)
APPRAISEMENT, ALLOWANCE ORDISALLOWANCE OF DEDUCTIONS ANDASSESSMENT OF TAXA fter an Inheritance tax return is filed, the Departmentof Revenue issues a notice setting forth its valuation ofthe estate s assets, allowable deductions and tax on the complexity of the return, it can takethree to six months from the date a return is filed withthe Register of Wills for processing to be , NOTICE OR APPEALAny party with interest in the estate, who is notsatisfied with a department determination of estatevalue, allowance or disallowance of Inheritance taxdeductions and/or tax liability, may appeal within 60days of receipt of the notice to which objection ismade.
in trust or otherwise. Separate returns are not to be filed by transferees for property included in a personal representative’s return. WHEN TO FILE An inheritance tax return should be filed as soon as possible after a decedent’s death, but no later than nine months from the decedent’s date of death. Failure to file may subject
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