Oren F. Potito, Oren F. Potito and Helen M. Potito v. Commissioner of Internal Revenue

Taxpayers Oren and Helen Potito appeal the decision of the United States Tax Court determining deficiencies in their federal income taxes for 1963, 1964 and 1965. 1 A 5% negligence penalty was imposed. With possible minor exceptions, the issues are purely factual. An appraisal of the record leaves us convinced that petitioners failed, utterly, to carry their burden of rebutting the presumptive correctness of the Commissioner’s assessment. Therefore, the lower court’s resolution of the facts and its legal conclusions are not clearly erroneous.

Petitioner’s 1963, 1964 and 1965 income tax returns…