In Re Sykes & Sons, Inc.

OPINION

DIANE WEISS SIGMUND, Bankruptcy Judge.

Before the Court is the Objection of Sykes & Sons, Inc. (the “Debtor”) to the Proof of Claim of the Internal Revenue Service (the “IRS”) in the amount of $528,724.34, for, inter alia, unpaid income and social security taxes, 1 interest and penalties for the first quarter of 1992 through the fourth quarter of 1993. The Debtor does not dispute its tax liability, but rather, requests the Court to reduce the claim by abating penalties in the amount of $137,240.38 and corresponding interest on the penalties 2 imposed for failing to timely file, deposit,…