Opinion
5881-24
05-14-2024
GREGORY J. BARNETT & TERRY A. CHASE, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Kathleen Kerrigan Chief Judge
On May 13, 2024, petitioners filed a Motion to Dismiss. Therein, petitioners request that the Court dismiss this case on the ground that petitioners have settled their dispute with the Internal Revenue Service regarding the underlying tax liability for the taxable year 2021.
In a deficiency case, as here, we are generally required to enter a decision specifying the amount of the deficiency, if any, for the taxable year at issue. See I.R.C. § 7459(d); Estate of Ming v. Commissioner, 62 T.C. 519 (1974). We are therefore unable to grant the relief that petitioners seek. However, in view of petitioner's request, we will take action as set forth below.
In consideration of the foregoing, it is
ORDERED that petitioners' Motion to Dismiss is recharacterized as petitioners' Status Report. It is further
ORDERED that, on or before July 1, 2024, the parties shall file either a proposed stipulated decision or a joint report regarding the then-present status of this case.