Posted: | May 25, 2021 10:59 AM |
---|---|
From: | Representative Rich Irvin |
To: | All House members |
Subject: | Inheritance Tax Holiday |
In the near future, I intend to introduce legislation that provides for a temporary exemption from Pennsylvania Inheritance Tax that otherwise would be assessed, limited to a timeframe from the date of enactment to December 31, 2021. Current law requires the remittance of inheritance tax owed within nine months of the passing of a decedent. While this is a longstanding requirement, the ongoing coronavirus pandemic has created uncertainty and anxiety for many Pennsylvanians, especially when navigating the difficult circumstances surrounding the settling of an estate. In these unprecedented times, it has become more burdensome than ever to accomplish the varying unfortunate tasks that arise in the wake of a loved ones passing, including remittance of any inheritance tax owed. To that end, my legislation would provide much needed temporary assistance to many grieving Pennsylvanians by providing a temporary exemption from Pennsylvania Inheritance Tax that would otherwise be owed for property transferred to a descendant via the law of intestate succession, an individual noted on the will, or any nonresident, from the date of enactment through December 31, 2021. I respectfully ask for your support on this important piece of legislation. |
Introduced as HB1817