@macuser_22 wrote:
...Without the 709 the $11 million exemption does not apply and the tax is due.
@macuser_22
Do you have any authority for the proposition stated (in the above quote)?
Treas. Reg. §25.6019-1(f) requires that a gift tax return be filed even if there is no tax due, but I cannot find any authority for the proposition that failing to file a gift tax return serves to eliminate the applicable exclusion amount.
