53- -
Petitioners offer no explanation of their failure to file their
1991 return timely.
Petitioners' allegation as to the unavailability of records
does not establish reasonable cause for failure to file timely
returns. Electric & Neon, Inc. v. Commissioner, 56 T.C. 1324,
1342-1344 (1971), affd. without published opinion sub nom.
Jiminez v. Commissioner, 496 F.2d 876 (5th Cir. 1974). A
taxpayer is required to file a timely return based on the best
information available and to file an amended return thereafter if
necessary. Estate of Vriniotis v. Commissioner, 79 T.C. 298, 311
(1982). In addition, a taxpayer is not excused from timely
filing his income tax return merely because he is overworked.
Crocker v. Commissioner, supra at 913; Dustin v. Commissioner,
53 T.C. 491, 507 (1969), affd. 467 F.2d 47 (9th Cir. 1972).
Consequently, we hold that petitioners have not established that
the failure to file timely 1990 and 1991 returns was due to
reasonable cause, and that they are liable for the additions to
tax under section 6651(a)(1).
VII. Issue 12. Section 6662(a) Accuracy-Related Negligence
Penalties
Finally, respondent determined that petitioners are liable
for accuracy-related penalties under section 6662(a) for 1990 and
1991.
The accuracy-related penalty is equal to 20 percent of any
portion of an underpayment attributable to a taxpayer's
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