Opinion
20871-22
05-31-2024
MICHELLE D. MOON & BYRON J. MOON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Mark V. Holmes, Judge
This case was on the Court's June 12, 2023 trial calendar for Buffalo, New York. The adjustments in the notice of deficiency are the result of adjustments to long term capital gain from a S corporation created by the sale of the Moons' pharmacy business. The Moons seemed to be making progress at IRS Appeals, but in the end were not able to settle.
We spoke with the parties today to gauge whether the case was headed to trial. The IRS's new lawyer and Mr. Moon were optimistic about the probability of settling, and the lawyer has already begun working directly with the Moons' accountant. With the parties cooperating it makes little sense right now to move the case to a pretrial-order track.
It is therefore
ORDERED that on or before August 30, 2024 the parties shall submit settlement documents or respondent shall file a status report describing progress in settling the case or narrowing the issues to be tried.