Opinion
19194-22S
10-27-2022
CORNELL RAIFORD & SHAWN M. RAIFORD, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Kathleen Kerrigan Chief Judge
On October 24, 2022, the Court received and filed a Letter by petitioners dated October 17, 2022. Therein, petitioners request that the Petition in this case be withdrawn, and that the case be closed, on the basis that the underlying dispute over petitioners' Federal income tax for the taxable year 2020 has been resolved by the parties.
In a deficiency case where this Court has jurisdiction, as here, the Court is generally required to enter a decision specifying the amount of the deficiency, if any, for the taxable year at issue. See I.R.C. § 7459(d); Estate of Ming v. Commissioner, 62 T.C. 519 (1974). Therefore, even if the parties have reached a settlement, the Court must enter a decision in this case reflecting that settlement. Accordingly, we will recharacterize the Letter and direct the parties as set forth below.
Upon due consideration of the foregoing, it is
ORDERED that the above-referenced Letter is recharacterized as petitioners' Motion for Entry of Decision. It is further
ORDERED that, on or before December 12, 2022, respondent shall file a response to the Motion for Entry of Decision, or the parties shall file a proposed stipulated decision.