CUB Creek Pres. v. Comm'r of Internal Revenue

Full title: CUB CREEK PRESERVE, LLC, SOUTHERN LAND PROTECTORS, LLC, TAX MATTERS…

Court: United States Tax Court

Date published: Feb 28, 2023

No. 12401-20 (U.S.T.C. Feb. 28, 2023)

Opinion

12401-20

02-28-2023

CUB CREEK PRESERVE, LLC, SOUTHERN LAND PROTECTORS, LLC, TAX MATTERS PARTNER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

COURTNEY D. JONES, JUDGE.

ORDER

COURTNEY D. JONES, JUDGE.

This case centers on petitioner's claimed deduction for a charitable contribution of an alleged conservation easement on its Form 1065 for the tax period ending December 31, 2016. The parties filed a Joint Status Report on February 17, 2023. Therein, they report that the case is currently with respondent's Independent Office of Appeals (IRS Appeals). In the absence of the case settling in IRS Appeals they report that settlement of the issues that remain in dispute is unlikely. Finally, they express their belief that it is in the best interest of this case for this Division of the Court to retain jurisdiction of the case and to order another status report that will be due on or before July 17, 2023.

In light of their report, the Court advises the parties that in the event of trial, the Court intends to hold a partial trial on the issue of valuation, with further trial only if necessary. The Court will expect the parties to stipulate to the average price per acre of land where the subject property is located.

With respect to a pre-trial scheduling order, the Court is likely to prefer that the parties file a proposed pre-trial schedule that clearly contemplates a partial trial on the issue of valuation only and makes clear that any and all deadlines relate only to that issue. With respect to the inclusion of any deadlines for the filing of motions for summary judgment (and responses thereto), the Court does not anticipate that either party will have good cause to file such motion, given the Court's focus on the issue of valuation.

The Court further advises the parties that, in the interest of judicial economy, the Court will not schedule a special session for partial trial until the parties resolve any and all discovery disputes, and otherwise demonstrate readiness for trial.

Upon due consideration of the parties' Status Report filed on February 17, 2023, it is

ORDERED that, on or before July 17, 2023, the parties shall file a status report (jointly, if possible, otherwise separately) to inform the Court of the then-present status of this case.