Request for: (1) a Waiver of the Surcharge and Interest on the Estate Tax Due and (2) an Extension of Two (2) Years Within Which to Pay the Estate Tax Due Thereon

September 18, 1995 BIR RULING NO. 145-95 84 (b) 000-00 145-95 Ms. Ma. Teresa Guillermina M. Velasco No. 12 San Francisco St. Barangay Capitolyo Pasig City 1603 M a d a m : This refers to your letter dated May 4, 1995 jointly signed by your brother and two sisters, requesting on behalf of the Estate of your mother, the late Milagros Magsaysay-Velasco, for: (1) a waiver of the surcharge and interest on the estate tax due on the transmission of the said estate to the heirs and (2) an extension of two (2) years within which to pay the estate tax due thereon. cdti It is represented that you are the children of retired Captain Pedro R. Velasco and Mrs. Milagros Magsaysay-Velasco; that your mother passed away on June 18, 1994; that the payment of the estate tax on her estate was being worked-out by your father, but unfortunately, he was stricken ill; that the eldest among you, Ana Blanca, was then already in the United States and the rest of you did not know what to do as you were taking care of your father and was still grieving over your mother's demise; that on April 22, 1995, or just ten months later, your father eventually died also; that it was only after this tragic event that you started inquiring, and in the course thereof, found that surcharges and interests were already due on the estate tax to be paid on your's mother's estate; that at present, you are preparing the separate returns for the respective estates of your parents and raising the amounts to be paid as estate taxes; that your parents did not have much and whatever cash that was left after your mother's death was used for your father's illness and, later, his funeral expenses; that you also do not have much; and that except for Ana Blanca who has children of her own to attend to in the United States, the rest of you do not have stable sources of income. In reply, please be informed that in view of the aforestated justifiable reasons, your request for an extension of time of two (2) years reckoned from the filing of the estate tax return within which to pay the estate tax due on your mother's estate is hereby granted pursuant to Section 84 (b) of the Tax Code, as amended. Moreover, your request for a waiver of the surcharges on the estate tax due on the transmission of your mother's estate is likewise hereby granted in view also of the aforementioned justifiable reasons. It is, however, understood that the estate of your mother shall be liable to the corresponding interest that have accrued thereon up to the time of payment of the estate tax. aisadc Very truly yours, LIWAYWAY VINZONS-CHATO Commissioner of Internal Revenue