| Identifier | Return Reference | Explanation |
|---|---|---|
| FORM 990PF PART VI, LINE 9 TAX DUE | ON THE MAY 15TH 2014 DUE DATE OF THE TAXPAYER'S 2013 FORM 990 PF, NOT ALL INFORMATION NECESSARY FOR A COMPLETE FILING WAS DUE. THIS WAS IN PART DUE TO A CHANGE IN PERSONNEL AND THE ADDITIONAL TIME NECESAARY FOR THE NEW PERSONNEL TO FAMILIARIZE THEMSELVES WITH THE TAXPAYER'S AFFAIRS. ACCORDINGLY, IT WAS NECESSARY TO FILE FORM 8868. AT THE TIME THE FORM 8868 WAS FILED, IT WAS NOT KNOWN THAT THE TAXPAYER RECOGNIZED A LARGE CAPITAL GAIN ON THE SALE OF DONATED STOCK. IT WAS INADVERTENLY THOUGHT THAT THE COST BASIS OF THE STOCK DONATED WAS THE FAIR MARKED VALUE ON THE DATE OF CONTRIBUTION. ACCORDINGLY, NO TAX WAS PAID WITH THE FORM 8868. IT WAS ONLY UPON RECEIPT OF ALL INFORMATION NECESSARY TO COMPLET THE FORM 990 PF WAS IT DETERMINED THAT THERE WAS IN FACT A TAX LIABILITY.WE RESPECTFULLY REQUEST THAT NO PENALTY BE IMPOSED FOR THE LATE PAYMENT OF THE TAX SHOWN ON THE FORM 990PF. THE TAXPAYER HAS ALWAYS PAID THEIR TAX ON A TIMELY BASIS. HAD THEY BELIEVED THEIR TO BE A TAX LIABILITY, IT WOULD HAVE AND COULD HAVE BEEN PAID ON MAY 15, 2014. THE CHANGE IN PERSONNEL DELAYED THE RECEIPT OF THE REQUIRED INFORMATION NECESSARY FOR THE PREPARATION OF THE FORMM 990PF. |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| LIFE INSURANCE POLICY | 602,550 | 723,060 | 723,060 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PA FILING FEE | 15 | 0 | 0 |
| Description | Amount |
|---|---|
| ADJUSTMENT TO PRIOR YEAR BOOK VALUE | 114 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DUE TO HAROLD HONICKMAN | 11,000 | 11,000 |
| Name | Address |
|---|---|
| HAROLD AND LYNNE HONICKMAN |
210 WEST RITTENHOUSE SQUARE PHILADELPHIA,PA19103 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 2,773 | 0 | 0 |