- 2 - and (2) R did not err in calculating the amounts of interest on any remaining issue raised by Ps. Ps move for an award of litigation costs. Held: Ps have not “substantially prevailed” with respect to the most significant issue or set of issues presented, nor have they “substantially prevailed” with respect to the amount in controversy. Sec. 7430(c)(4)(A)(i), I.R.C. 1986. Consequently, Ps are not the “prevailing party” (sec. 7430(c)(4)(A), I.R.C. 1986), and are not entitled to an award of reasonable litigation costs. Sec. 7430(a)(2), I.R.C. 1986. Matthew J. McCann, for petitioners. William J. Gregg and Warren P. Simonsen, for respondent. OPINION CHABOT, Judge: This matter is before us on petitioners’ motion for an award of reasonable litigation costs pursuant to section 74301 and Rule 231.2 The issues for decision are: (1) Whether petitioners are the “prevailing party” for purposes of section 7430--in particular: (A) Whether petitioners “substantially prevailed” 1 Unless indicated otherwise, all section references are to sections of the Internal Revenue Code of 1986 as in effect for proceedings commenced at the time the petition in the instant case was filed. 2 Unless indicated otherwise, all Rule references are to the Tax Court Rules of Practice and Procedure.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Next
Last modified: May 25, 2011