Opinion
14398-22
04-02-2024
JAMES E. BAILEY & LENA D. BAILEY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Christian N. Weiler Judge.
This case is calendared for trial on the Court's May 13, 2024, Knoxville, Tennessee trial session. On March 26, 2024, the parties filed a Motion for Continuance of trial. This case involves the disallowance of deductions for insurance premiums paid to a captive insurance company by petitioners. The captive insurance issues in this case are significant and complex. The parties agree that there is insufficient time prior to the scheduled trial date to adequately engage in discovery and prepare for trial.
Given due consideration to the foregoing, it is
ORDERED that the parties Motion for Continuance is granted, and this case is stricken for trial from the Court's May 13, 2024, Knoxville, Tennessee trial session. It is further
ORDERED that the undersigned Judge retains jurisdiction over this case. It is further
ORDERED that on before August 5, 2024, the parties shall file a joint report (or separate reports, if preferred) updating the Court on the status of this case.