Opinion
14853-20 14858-20
08-09-2023
PRITHPAL S. KANDHARI, ET AL., Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Mark V. Holmes, Judge
These cases were on the Court's April 4, 2022 trial calendar for Los Angeles, California. The combined deficiency is large, and arises mostly from ¶owthrough adjustments to the returns of an LLC owned by petitioners that was in the tire-distribution business. The parties recently reported that they have tentatively agreed to a basis for settlement with respect to most of the issues in this case. They need a bit more time to discuss the details with their clients and, if it works out, to prepare and execute a stipulation of settled issues. It is therefore
ORDERED that on or before September 7, 2023 the parties shall submit settlement documents or file a status report describing their progress.