Opinion
3965-20
08-29-2022
JAMES J. MAGGARD & SZU-YII CHANG, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Mark V. Holmes, Judge
This case was on the Court's October 25, 2021 trial calendar for San Francisco, California. The two major issues are substantiation of business expenses and the possibility that the business might have lost its status as an S corporation due to disproportionate distributions. They recently reported a slowing of progress on the substantiation issue and on a stipulation that would accompany a motion to submit the case under Rule 122. The Court will give them another 60 days to get the case moving before imposing less flexible deadlines, but for now it is
ORDERED that on or before October 7, 2022 the parties file a status report to describe their progress in settling the case or moving to submit the S corporation issue for decision under Rule 122.