Opinion
2007-20
03-21-2022
Gamma Trading Partners LLC, Pensacola PFI Corp., A Partner Other Than the Tax Matters Partner Petitioner v. Commissioner of Internal Revenue Respondent
ORDER
Mark V. Holmes Judge
This case was on the Court's May 24, 2021 trial calendar for New York City. It arises from four foreign-currency options that petitioner claims generated a nearly $60 million loss, and we continued the case to give the parties a chance to settle at IRS Appeals. They recently reported that their talks continue to be fruiful, and IRS Appeals is drafting a settlement offer in the next couple weeks. It is
ORDERED that on or before May 2, 2022 the parties shall submit settlement documents or file a status report that describes their progress at IRS Appeals.