July 2000

Washington Estate Tax Penalties Reduced

Recent legislation will affect the way estates are penalized for the late filing of the Washington estate tax return. House bill 2515 revises RCW 83.100.070, pertaining to imposition of the estate tax penalty for late filing. Under the revised law, there will be no penalty for voluntary late filing, but a penalty of five percent per month not to exceed 25 percent or $1,500, whichever is less, will be applied to nonvoluntary filings. This law will affect estates with a July 1, 2000 due date or later. For more information, contact Julie Japhet at 360-753-7518 or Phoebe Hein at 360-753-5547.

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