Opinion
14486-20
03-23-2022
KKMK Corporation Petitioner v. Commissioner of Internal Revenue Respondent
ORDER
Mark V. Holmes Judge
This case is on the Court's April 4, 2022 trial calendar for Los Angeles, California, and is mostly about the substantiation of the income and expenses (especially cost of goods sold) of a corporation that is no longer active. Respondent moved without objection and slightly late (on March 7) for a continuance. We spoke with the parties on March 18 to discuss progress. There are two noteworthy things about the case. The first is that petitioner has now assembled three large boxes that constitute all or almost all the universe of records. The second is that this case, arising from the 2016 tax year, is one of only three that is currently the subject of controversy between the parties. As petitioner suggested, it makes sense to try to settle all three tax years. Respondent is satisfied now with the level of informal cooperation that petitioner has shown. Though it may take some time for the parties to work the issues to a conclusion, it is reasonable for it to be
ORDERED that respondent's March 7, 2022 motion for continuance is granted in that this case is stricken from the Court's April 4, 2022 trial calendar. It is also
ORDERED that this division of the Court retains jurisdiction. It is also
ORDERED that on or before May 20, 2022 the parties shall file a status report to describe their progress in settling the case or narrowing the issues to be tried.