This bill amends the Tax Reform Code of 1971, specifically focusing on the inheritance tax provisions related to appraisement and deductions. It modifies the time frame for appraisements of property subject to tax, changing the period from six months to sixty days after the return has been filed. If the appraisement is not completed within this time frame, an additional period can be established by the court upon request from any interested party, including the personal representative. Similarly, the bill alters the timeline for determining deductions, also changing it from six months to sixty days after a claim for allowance has been filed.

Additionally, the bill allows the court to determine and allow deductions during the audit of a fiduciary's account without requiring a separate claim, provided that the deductions are properly deductible credits. However, it stipulates that deductions exceeding $100 will not be permitted unless the Commonwealth is represented at the audit or there is proof of at least thirty days' notice to the register regarding the claim. The act is set to take effect in 60 days following its passage.