The tax man helpeth

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Looking for estate tax relief? Here’s some from the Ohio Department of Taxation:

  • The department has raised to $25,000 the threshold at which financial institutions must freeze accounts of a person who dies, pending the presentation of a tax release form.
  • Financial institutions are no longer required to await a county auditor’s inventory of a safe deposit box upon the death of its owner before access can be gained to it.
  • The department no longer requires a form for the first six-month extension for estate tax returns. This means estates will have a total of 15 months after the person’s death to file the return before a written extension request is required.

How to reach: Ohio Department of Taxation, www.state.oh.us/tax/business.html or (614) 466-2166