@Anonymous_ wrote:
@macuser_22 wrote:
Then what is the point of *anyone* with less then $11 million in assets to ever file a 709? AFAIK the 709 is the form that *applies* the exemption, without it then there is not exemption. I believe other code sections actually apply the tax (§2500-2501 possibly).
A 709 is required to be filed regardless of whether or not tax is due; that is clearly in the Regs (see the cite in my previous post).
Agreed, but if *required* to be filed then what is the penalty for not filing it if I am incorrect? There is clearly a penalty for not filing it, but what is it if it does not exist?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
