George C. And Angela B., McIngvale Sr. v. Commissioner of Internal Revenue

WIENER, Circuit Judge:

This kaleidoscopic federal income tax case was filed in the United States Tax Court by Petitioners-Appellants George C. and Angela B. Mclngvale (collectively, Taxpayers) against the Commissioner of Internal Revenue (the Commissioner) for a rede-termination of federal income tax deficiencies previously determined by the Internal Revenue Service (IRS). Following a trial on the merits, the tax court ruled in favor of the Commissioner, holding that (1) Taxpayers had failed to meet their burden of proof to support a claimed reduction of $15,000 for overstatement of income,…