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Lev
Lev, Tax Advisor
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On 6651, for "There might be late filing penalty even there

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On 6651, for "There might be late filing penalty even there is no tax liability - if the tax return is required but filed after the due date.", do you have some insights on normally how to decide/calculate such no-tax-liability late filing penalty? Just would like to get a sense of how much it would be...
Submitted: 10 months ago.
Category: Tax
Expert:  Lev replied 10 months ago.

Lev :

Hi and welcome to our site!
I know that many websites are telling that if there is no tax liability - there is no late filing penalty - that is not true as the law was changed and not everyone aware - the minimum penalty is $135 when the tax return is filed 60 day after the due date (including extensions)

Lev :

See - http://www.irs.gov/irm/part8/irm_08-017-007.html
For returns filed (without regard to extensions) after 12/31/2008, the minimum penalty is the lesser of $135 or 100 percent of the tax required to be shown on the return that was not paid on or before the due date.
So - if no tax due - $135 penalty will be applied.

Lev :

You may however request an abatement of penalty based on a reasonable cause as long as that is a honest mistake and not a tax evasion.

Lev, Tax Advisor
Category: Tax
Satisfied Customers: 22704
Experience: Taxes, Immigration, Labor Relations
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Customer: replied 10 months ago.

But on this page: www.irs.gov/irm/part8/irm_08-017-007.html


 


It says:


 


The minimum penalty applies only to income tax returns. It does not apply to employment tax, excise tax, gift tax, or estate tax returns.


 


So it seems there is no minimum FTF penalty for gift tax if the tax liability is 0 ?

Expert:  Lev replied 10 months ago.
Seems as you are correct.
There should not be penalty if there is no tax liability.
Sorry for confusion.

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