"6. When the 1991 income tax was prepared by Edward J. White, Co- Executor, a large capital gain was omitted necessitating the filing of an amended return. $526.55 was assessed in interest by the IRS. The figure is the amount of interest earned by the estate while the amount due the IRS was in the estate bank account. The balance of the interest assessment was paid by Edward J. White." (Accounting entanglement $241.81).
1992.09.14 (Edward White to Jean Nader)
"Enclosed is the IRS reply to the amended income tax return which was filed to reflect the Lynch principal payment in 1991 which resulted in an additional $28,334.00 in federal tax.
They did not assess a penalty, but did assess interest in the amount of $526.55 for what I gather is the period from April 15 through July 7, 1992.
*Since the estate would have had to pay the $28,334.00 in taxes in April, and as a result of the non payment, earned interest on the money, I have split the payment of the IRS assessment between me and the estate.
During the period of 83 days that the money was in the estate account it earned an average of 3.753% which equates to $241.81. My share is $284.74. The checks are enclosed. Please sign the estate check if you agree and mail the package to the IRS. I am sure we will hear from Virginia to a lesser degree.
Please send a copy of this letter to Tony.
Sincerely, Edward J. White"
*The amendment was to Jean O'Connell's 1991 individual tax return and not her estate. The accountings should be kept seperate and not entangled.
Unusual things are a flag. History suggests that this computation which entangles Jean O'Connell's 1991 individual tax return, the estate, and Edward White, will so confuse the accounting that it will make it impossible to expose the accounting trails and find out where the money went such as the Lynch payment of $125,188 to Jean O'Connell on April 21, 1991.