Opinion
12576-20
06-17-2024
CYPRESS CREEK CLUB, LLC, JACK PETERSEN, TAX MATTERS PARTNER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Alina I. Marshall, Judge
Jack Petersen, the petitioner in this case, is the tax matter partner (TMP) of Cypress Creek Club, LLC (Partnership). On June 11, 2024, respondent filed a Motion for Entry of Decision (Motion) in which he represents that the parties have reached a basis of settlement for the partnership items at issue in this case. He represents that petitioner, the TMP, agrees to the proposed decision, however, the TMP does not certify that no party would object to the granting of the Motion. At this time, no partner other than the TMP is a participating partner to this action within the meaning of Rule 247(b), Tax Court Rules of Practice and Procedure, because no other partner has filed an election to participate. The time within which to file a notice of election to participate under Rule 245(b) has expired.
Rule 248(b) requires that the TMP notify nonparticipating partners of respondent's Motion and that the Court allow 60 days for any partner to elect to intervene in this proceeding and object to entry of the proposed decision. If no partner intervenes, the Court will then enter the decision. Premises considered, it is
ORDERED that, on or before August 12, 2024, any party who objects to the granting of respondent's aforementioned Motion shall file (1) a motion for leave to file a notice of election to participate out of time, and (2) a notice of election to participate.