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Finally, we consider whether petitioners are liable for an
accuracy-related penalty for negligence under section 6662(a) and
(b)(1). Section 6662(a) provides for a 20-percent penalty for
the portion of the underpayment of tax attributable to one of the
categories listed in section 6662(b). Section 6662(b)(1)
provides that negligence or disregard of rules or regulations is
a reason for imposition of the 20-percent addition.
Negligence includes a lack of due care or a failure to do
what a reasonable and ordinarily prudent person would do under
the circumstances. Neely v. Commissioner, 85 T.C. 934, 947
(1985). Petitioners bear the burden of proving that respondent's
determination of negligence is erroneous. Rule 142(a); Bixby v.
Commissioner, 58 T.C. 757, 791-792 (1972).
Petitioner, at least with respect to 1990, was erroneously
under the impression that his credit union accounts were covered
under the IRA account that he opened. During the confusion of
the takeover by Delta Airlines and the closing of the pilots'
pension Plan that had operated while petitioner worked for
Western, petitioner executed IRA papers, and, for the most part,
deposited his funds in the credit union that was affiliated with
the organization and the individual (Mr. Supinski) who assisted
petitioner in the opening of petitioner's IRA account. Taking
into consideration petitioner's lack of specialized knowledge
about IRA's and tax law involving pension plans, and, considering
the circumstances in this case, it was reasonable for petitioner
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