Opinion
30615-21
11-14-2022
MICHAEL J. WATSON & TRACEY L. WATSON, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Christian N. Weiler Judge
This case is related to five other cases currently pending before this Court. On November 8, 2022, the parties filed a joint status report. In their report, the parties state that they anticipate filing a motion seeking consolidation of cases for purposes of trial, briefing and opinion.
This case involves captive insurance issues, including the question of deductibility of purported insurance premiums paid by Michael and Tracey Watsons' businesses to CCFC Insurance Company, Ltd. The report informs the Court that the parties have been engaged in trial preparations, including document review, for this and the related cases; however, counsel for both parties are simultaneously preparing for the upcoming trial in mid-February of 2023 of another group of captive insurance cases which also involve CCFC Insurance Company, Ltd.
Upon due consideration, it is
ORDERED that on or before March 15, 2023, the parties shall file a status report regarding the then-present status of this case. It is further
ORDERED that a telephone status conference (via Microsoft Teams) with the Court and the parties herein is set for March 22, 2023, at 12:00p.m. (EST) to discuss the status of this case. The Court will separately furnish counsel for the parties the Teams information for the status conference.