<table><tr><th>From:</th><th>Richard Joslin &lt;-&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, October 1, 2014 10:54 AM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: Estimated tax penalty</td></tr></table>

We had planned to amend 2012 and report Leger/Bracque gain. Tax =ncrease would have been around $3.5MM. We never filed amended 2012. =nbsp;The estimated tax penalty is showing as if amended return was filed a=d thereby requiring higher amounts of estimated tax payments in 2013. It will be fixed. Penalty for underpaym=nt of estimated tax < 100K. Will be reduced to around $25-30K.&n=sp;

On Oct 1, 2014, at 6:42 AM, "jeffrey E." <jeevacation@gmail.com <mailtole=vacation@gmail.com» wrote:

what are the amounts involved? was 2012 amended LESS=than 2012 filed?

On Tue, Sep 30, 2014 at 8:34 PM, Richard Joslin =span dir="ltr"> <mailto » > wrote:

They used for 2013 tax return. Form 2210 calculates penalty for underp=yment of estimated tax. Silly, borderline knuckleheaded.

On Sep 30, 2014, at 8:28 PM, "Jeffrey E." <jeevacation@gmail.com <mailtol=evacation@gmail.com» wrote=

when did they use the amended? makes no sense

On Tue, Sep 30, 2014 at 8:16 PM, Richard Joslin =span dir="ltr">
<mailto » > wrote:

I am looking at 2210 form and it shows Q4 underpayment. I know we are=on protect. And i know that I would not have short paid if on =rotect. I arrived on scene in time for Q4 payment. = What do you think happened to cause this error?

Raiche used the amended tax return for 2012 to determine protect amount.&nb=p; Aside from fact the amended return was never filed, the estimated tax r=les require the use of the tax shown on

originally filed return or the ame=ded return tax only if amended return is filed by extended due date. I am pretty sure Prosystem has =his programmed properly. I know GoSystem has.

Raiche overrode prior year tax with the 2012 amended tax (never filed=. So that means Raiche do not know these basic rules regarding estimated tax.=br> Everything needs to be checked.

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please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved