Estate of David J. Dickerson, Deceased, Dorothy Dickerson, Executor and Dorothy Dickerson, et al. - Page 23

                                       - 23 -                                         
          that she took the settlement money along with money from the                
          paychecks of Michoff, Sr., and hid them from Michoff, Sr.  The              
          funds that she used allegedly came from a personal injury                   
          settlement of Michoff, Sr., as well as the paychecks of Michoff,            
          Sr., which were made out to him and which he picked up at work.             
          We find it unlikely that Beverly Michoff could have taken these             
          funds and hid them from Michoff, Sr., for so many years.                    
          Additionally, Beverly Michoff testified that her husband did not            
          believe in banks.  However, during the years in issue the                   
          Michoff, Srs., actively used savings accounts, credit card                  
          accounts, and a credit union account.  Under all the                        
          circumstances, we are not required to accept the self-serving               
          testimony of petitioner.  Tokarski v. Commissioner, 87 T.C. at              
          77.  Based on our review of the record and the circumstances, we            
          find Beverly Michoff's explanation of a cash hoard not to be                
               The explanations of the Michoff, Srs., as to their other               
          deposits and expenditures which are at issue are equally lacking            
          in credibility.  They seek to rely on uncorroborated testimony              
          and unsupported argument.  This is not sufficient evidence to               
          meet their burden of proof.  The Michoff, Srs., have failed to              
          prove that any of the amounts at issue are from nontaxable                  
               As a source of additional income, respondent identified the            
          transactions of the Michoff, Srs., with their son.  Respondent              

Page:  Previous  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30  31  32  Next

Last modified: May 25, 2011