regulations defining the realistic possibility standard refer to the same list of authorities on which taxpayers may rely for substantial authority under the provisions for substantial understatement penalty. Treas. Reg. § 1.6694-2(b)(2) (citing Treas. Reg. § 1.6662-4(d)(3)(iii)). The “realistic possibility” standard is a lesser standard than substantial authority. See Joint Committee on Taxation, 106th Cong., Comparison of Joint Committee Staff and Treasury Recommendations Relating to Penalty and Interest Provisions of the Internal Revenue Code (JCX-79-99) 13 (Nov. 5, 1999). Petitioners contend that to the extent that Notice 2000-44 applied, the taxpayers’ position had a realistic possibility of being sustained on the merits because court opinions such as Helmer, 34 T.C.M. (CCH) 727 (<HOLDING>) are entitled to greater deference than notices
recognizing that rights under article i section 11 are subject to reasonable limitations holding states are not persons for the purposes of section 1983 holding that emotional distress damages are not recoverable under section 504 holding that contingent obligations are not liabilities under section 752 recognizing the reciprocal payment obligations of the lender and borrower under tila section 1635b and regulation z section 22623d