- 12 -
v. Commissioner, supra; cf. Tokarski v. Commissioner, 87 T.C. 74,
77 (1986). We conclude that petitioners have failed to prove
they meet the net worth requirements necessary to be a
"prevailing party" under section 7430(c)(4).
In light of our holding that petitioners failed to prove
they meet the net worth requirements, we need not address whether
(1) respondent's position was substantially justified; (2)
petitioners unreasonably protracted the Court's proceeding; or
(3) the amounts of administrative and litigation costs claimed by
petitioners are reasonable.
Accordingly, we hold that petitioners are not entitled to an
award of administrative or litigation costs.
To reflect the foregoing,
An appropriate order
will be issued.
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Last modified: May 25, 2011