Opinion
14637-21
10-19-2022
ZIA M. SHEIKH & MINOO ZIA, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER AND DECISION
Courtney D. Jones Judge
On September 13, 2022, respondent filed a status report in which he reported that the parties had reached a basis of settlement (Doc. 14). In recognition thereof the Court struck this case from trial at the session of the Court scheduled to commence on September 19, 2022, in New York City, New York and ordered the parties to file a proposed stipulated decision on or before October 14, 2022 (Doc. 15).
On October 13, 2022, respondent filed a Motion for Entry of Decision (Doc. 16). Attached to the Motion is a copy of a proposed decision that reflects a full concession by respondent. Because granting respondent's Motion will not prejudice petitioners, it is
ORDERED that respondent's October 13, 2022, Motion for Entry of Decision is granted. It is further
ORDERED AND DECIDED that there is no deficiency in income tax due from, nor overpayment due to, the petitioners for the taxable year 2018, and
That there is no penalty due from petitioners for the taxable year 2018, under the provisions of I.R.C. § 6662(a).