2007 AMENDED RETURN

[JACKSORH]

I inadvertently missed 2 stock sales which I failed to included on Sch. D in 2007. I amended the return to show how much was owed to IRS. In the CP2000 notice they are assessing interest and an accuracy related penalty to my client. Is there anyway I can get the latter penalty abated because I feel it is unfair to penalize a person for an honest mistake. It was an oversight on my part.

Please let me know what steps I can follow to get the penalty abated.

Thanks,

[kcjenkins]

You send the info to the address on the CP2000, and include a letter from you asking that the penalty be abated, as the error was caused in your office, "due to to sales documents being misfiled" or some such explanation, and odds are good that they will abate the penalty. Have the client send the additional tax, and the interest, and tell him you will pay the penalty, if you can not get it abated. The tax is his, and he's the one who had the use of the money, so whether you decide to pay the interest or not is your choice, but the penalty is your fault, so it is only right that you pay it IF you can not get it abated. My 2¢.