est (2018) Estate Taxation - Fundamentals Question 35 of 75. Which of the following statements regarding the assessment of penalitios is correct? OSection 6851 provides for penalies for both late filing and late payment O Penalties apply to the willful attemt to evade payment of estate and GST tax O A late-Sing penality will not be imposed i the taxpayer can s O All of the above statements are correct show that the failure to file a imely return is due to reasonable cause Mark for follow up Question 36 of 75 Mr. Pink died testate. In his will, he names his son, Pink, Jr, as executor of his estate. After his son declines to serve, his friend, Mr. Orange, agrees to serve as executor, and was so appointed by the court All of Mr. Pink's property has been distributed to his wife, Mrs. Pink. Who is the personal representative for purposes of filing Form 706? O Pink, r O Mr. Orange Mrs. Pink. O None of the above Mark for follow up Question 37 of 75 In June 2017, Cynthia died. She lived with her sister Roxanne until the time of her death. Her only asset was the home she owned jointly with Roxanne, with right of survivorship. It was worth $7 million at death. Cynthia left no will, and Roxanne did not apply to the court to be named administrator. which statement is correct? No estate return need be filed because there is no one named by the court to file it O Raxanne must fle the estate tax retum because she is in possession of Cynthia's asset and, for tax purposes, is therefore considered to be her personal representative. O No estate tax relurn needs to be filed because Cynthia's estate is under the fling threshold O Roxanne must appoint an executor over the estate to file Cynthia's returm LMark for follow up Question 38 of 75. than Under Code $6166, if an estate qualifies to pay its estate tax due in installments, payments are made in no more instalments