Opinion
3965-20
02-09-2022
James J. Maggard & Szu-Yii Chang Petitioners v. Commissioner of Internal Revenue Respondent
ORDER
Mark V. Holmes, Judge
This case was on the Court's October 25, 2021 trial calendar for San Francisco, California. The two major issues are substantiation of business expenses and the possibility that the business might have lost its status as an S corporation due to disproportionate distributions. They recently reported good progress on the substantiation issue and continue to believe this issue can be settled without a trial. As to the S corporation issue, the parties have also continued to communicate and still expect they will be able to submit the case under Rule 122. They reasonably ask to report again in the spring, and it is
ORDERED that on or before May 6, 2022 the parties file a status report to describe their progress in settling the case or moving to submit the S corporation issue for decision under Rule 122.