Festus & Helen Stacy Foundation II

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WE RESPECTFULLY REQUEST THAT THE FAILURE-TO-FILE PENALTY BE ABATED BASED ON THE IRS'S FIRST TIME ABATE ADMINISTRATIVE WAIVER PROCEDURES, AS DISCUSSED IN IRM 20.1.1.3.6.1, FIRST TIME ABATE (FTA). TAXPAYER MEETS FIRST-TIME PENALTY ABATEMENT CRITERIA. ACCORDING TO IRM 20.1.1.3.6, THE IRS'S REASONABLE CAUSE ASSISTANT PROVIDES AN OPTION FOR PENALTY RELIEF FOR FAILURE-TO-FILE, FAILURE-TO-PAY, AND FAILURE-TO-DEPOSIT PENALTIES IF THE TAXPAYER MEETS CERTAIN CRITERIA. THE TAXPAYER MEETS ALL OF THE FIRST-TIME PENALTY ABATEMENT CRITERIA AS STATED BELOW: -FILING COMPLIANCE: MUST HAVE FILED (OR FILED A VALID EXTENSION FOR) ALL REQUIRED RETURNS AND CAN'T HAVE AN OUTSTANDING REQUEST FOR A RETURN FROM THE IRS. -PAYMENT COMPLIANCE: MUST HAVE PAID OR ARRANGED TO PAY ALL TAX DUE (CAN BE IN AN INSTALLMENT AGREEMENT AS LONG AS THE PAYMENTS ARE CURRENT). -CLEAN PENALTY HISTORY: HAS NO PRIOR PENALTIES (EXCEPT AN ESTIMATED TAX PENALTY) FOR THE PRECEDING THREE YEARS. WE UNDERSTAND THAT THIS TYPE OF PENALTY ABATEMENT IS A ONETIME CONSIDERATION. WE ALSO REQUEST PENALTY ABATEMENT DUE TO REASONABLE CAUSE. DUE TO UNFORESEEN CIRCUMSTANCES, TAXPAYER DID NOT ELECTRONICALLY FILE THE TAX RETURN AND INSTEAD, PAPER-FILED THIS TAX RETURN IN A TIMELY MANNER. EACH YEAR, TO REMAIN IN COMPLIANCE WITH THE IRS 990-PF INSTRUCTIONS, TAXPAYER INCLUDES BROKERAGE STATEMENT ATTACHMENTS SUPPORTING THE MANY INVESTMENT COST BASIS AND FAIR MARKET VALUE FIGURES REPORTED ON FORM 990-PF, PART II, LINES 10A, 10B AND 10C OF THE BALANCE SHEET. HOWEVER, PDF BROKERAGE STATEMENT ATTACHMENTS ARE NOT ALLOWED TO BE ELECTRONICALLY FILED FOR EXEMPT ORGANIZATION RETURNS PER THE IRS. ADDITIONALLY, THE TAXPAYER'S TAX PROFESSIONAL USES A TAX PREPARATION SOFTWARE THAT DOES NOT ALLOW SAID ATTACHMENTS AND STILL QUALIFY FOR ELECTRONIC FILING. AS SUCH, WE ARE NOT INCLUDING SAID BROKERAGE STATEMENTS IN THIS VERSION OF THE TAX RETURN SO WE CAN ELECTRONICALLY FILE THE RETURN AND RESOLVE THE ISSUE. TAXPAYER ELECTRONICALLY FILED AN EXTENSION OF TIME TO FILE ON MARCH 1, 2021. ADDITIONALLY, TAXPAYER SUBMITTED A PAPER-FILED VERSION OF THIS TAX RETURN ON SEPTEMBER 15, 2021 REQUESTING CERTIFIED MAIL RECEIPT VIA U.S. MAIL. ACCORDINGLY, THE TAX RETURN WAS RECEIVED BY THE IRS ON OCTOBER 5, 2021. TAXPAYER SUBSEQUENTLY RECEIVED IRS LETTER 2697C SAYING FORM 990-PF FOR THE YEAR ENDING OCTOBER 31, 2020 WAS RETURNED AND NOT PROCESSED SINCE IT IS REQUIRED TO BE ELECTRONICALLY FILED. TAXPAYER HAS A HISTORY OF FILING THEIR EXTENSION AND TAX RETURNS IN A TIMELY MANNER AND IN NO WAY ACTED NEGLECTFUL OR CARELESS, BUT EXERCISED ORDINARY BUSINESS CARE AND PRUDENCE. WE HAVE SINCE INFORMED OUR TAX PROFESSIONAL TO NOT INCLUDE BROKERAGE STATEMENTS WITH FUTURE FILINGS AND INSTEAD, INSERT A FOOTNOTE STATEMENT NEXT TO EACH APPLICABLE AMOUNT SAYING "STATEMENT AVAILABLE UPON REQUEST" TO PREVENT THE SAME SITUATION FROM OCCURRING IN THE FUTURE. I CERTIFY UNDER PENALTY OF PERJURY AND PURSUANT TO THE LAWS OF THE UNITED STATES AND THE STATE OF FLORIDA THAT THE PRECEDING IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF, AND THAT I AM A CERTIFIED PUBLIC ACCOUNTANT DULY QUALIFIED TO PRACTICE IN THE STATE OF FLORIDA. WE APPRECIATE YOUR TIME AND ATTENTION IN THIS MATTER.

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Based on 36 grants on record

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Grants Awarded (36 total)

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