Opinion
20871-22
09-18-2024
MICHELLE D. MOON & BYRON J. MOON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Mark V. Holmes Judge
This case was on the Court's June 12, 2023 trial calendar for Buffalo, New York. The adjustments in the notice of deficiency are the result of adjustments to long-term capital gain created by the sale of the Moons' pharmacy business. The Moons seemed to be making progress at IRS Appeals, but in the end were not able to settle.
Respondent recently reported that the parties have significantly narrowed the issues in this case and are close to a complete resolution. The parties will continue working towards submission of a proposed stipulated decision. With the parties cooperating it makes little sense right now to move the case to a pretrial-order track.
It is therefore
ORDERED that on or before November 1, 2024 the parties shall submit settlement documents or respondent shall file a status report describing progress in settling the case or further narrowing the issues to be tried.