ABSTRACT
Since the Holland case, there have been many court decisions which aŸect either the net worth presentation or the source of such item on the net worth. Some of the court decisions should be kept in mind when preparing a net worth statement. ‚ey are:
5.4.1 Burden of Proof
In Jacobs v United States (54-1 USTC 9704), the burden of proof rested with the taxpayer in rebutting a net worth method, especially when he did not keep required books and records.
5.4.2 Cash on Hand
