New penalty from NOT filing - also, please see if you agree

[easytax]

President Obama signed the following (pretty straight forward but see my question following):

White House

The president on February 24 signed the Trade Facilitation and Trade Enforcement Act of 2015 (Trade Act) (P.L. 114-125), which includes an increase in the penalty for failure to file a return and a permanent moratorium on state and local taxation of Internet access (TAXDAY, 2016/02/26, W.1). For taxpayers who fail to file their returns more than 60 days after the due date or extended due date, the Trade Act increases the minimum penalty tax to the lesser of $205 or 100 percent of the unpaid tax, effective for returns required to be filed in calendar years after 2015.

Does this say to you that someone who should file BUT does NOT and has no tax liability is basically clear of any penalties? ---  if no tax due, then 100 % of unpaid tax is zero. Will this negate any other non-filing penalty too?               Thanks, just straitening out my mind --- (impossible. yes, but every now and then I try).

[FDNY]

That sounds good to me.  We've all filed late returns with no tax due or refunds and I've never seen a penalty for late filing.

I guess your mind is pretty straight after all.  If not we're both in trouble.

[Gail in Virginia]

According to IRS website, the current penalty is:

• If you file your return more than 60 days after the due date or extended due date, the minimum penalty is the smaller of $135 or 100 percent of the unpaid tax.

So it looks like the only change is to raise the flat dollar amount from $135 to $205.  The alternative is still 100% of unpaid tax.

[Terry D EA]

I wonder if this applies to Al Sharpton? Or, is he exempt too. Moron.