Opinion
25115-16 20486-17
05-10-2024
ROBERT D. WADLEY & IRENE P. WADLEY, ET AL., Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Tamara W. Ashford Judge
On May 9, 2024, pursuant to the Court's February 12, 2024, Order, the parties filed a Joint Status Report, apprising the Court of the then present status of these consolidated micro-captive insurance cases. The parties report that they have been engaged in settlement discussions regarding settlement of these cases (and multiple other otherwise unrelated cases involving petitioners with micro-captives managed by one of the two managers in these cases.) The parties also report that a written settlement offer was submitted to respondent in February 2024, and two telephone conferences were held with the parties' counsel in April 2024. The parties further report that as a result of the telephone conferences, a revised settlement offer was submitted to respondent earlier this month and respondent is now considering this revised settlement offer. Accordingly, the parties request that the Court allow them to file a status report in 90 days, apprising the Court of the then present status of these cases. Upon due consideration, it is hereby
ORDERED that the parties shall, on or before August 8, 2024, file status reports, separately or jointly, apprising the Court of the then present status of these cases.