- 69 -
affg. T.C. Memo. 1974-285; IT&S of Iowa, Inc. v. Commissioner, 97
T.C. 496, 508 (1991); Parker v. Commissioner, 86 T.C. 547, 562
(1986); see also Pabst Brewing Co. v. Commissioner, T.C. Memo.
1996-506. We are not bound by an expert’s opinion and will
reject an expert’s opinion to the extent that it is contrary to
the judgment we form on the basis of our understanding of the
record as a whole. See Orth v. Commissioner, 813 F.2d 837, 842
(7th Cir. 1987), affg. Lio v. Commissioner, 85 T.C. 56 (1985);
Silverman v. Commissioner, supra at 933; Estate of Kreis v.
Commissioner, 227 F.2d 753, 755 (6th Cir. 1955), affg. T.C. Memo.
1954-139; IT&S of Iowa, Inc. v. Commissioner, supra at 508; Chiu
v. Commissioner, 84 T.C. 722, 734 (1985); see also Gallick v.
Baltimore & O. R. Co., supra at 115; In re TMI Litig., 193 F.3d
613, 665-666 (3d Cir. 1999).
Mr. DeWeese is no stranger to this Court. He testified in
Booth v. Commissioner, 108 T.C. 524 (1997), as an expert on
multiple employer plans. We find him to be reliable, relevant,
and helpful. We credit his opinion as set forth in his report
and as clarified at trial. We rely on his opinion in making our
findings of fact and reaching the conclusions we draw therefrom.
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