2015 Trying Times: Important Lessons to Be Learned from Recent Federal Tax Cases
Presented at Land Trust Alliance Rally 2015, Sacramento, California, Friday October 9. 2015
155 Pages Posted: 13 Oct 2015 Last revised: 13 Nov 2015
Date Written: October 9, 2015
Since 2005, the courts have collectively issued more than 75 opinions involving challenges to deductions claimed under IRC § 170(h) with regard to conservation easement donations. This outline discusses the practical implications of recent court decisions for conservation easement donors and donees. The outline was prepared for a workshop of the same name at the Land Trust Alliance's national conference in Sacramento, California, in October 2015. Presenters at the workshop were Nancy A. McLaughlin, Robert W. Swenson Professor of Law, University of Utah S.J. Quinney College of Law; Steve Small, Attorney at Law, Law Office of Stephen J. Small; Karin Gross, Supervisory Attorney, IRS Office of Chief Counsel in DC; and Marc Caine, Senior Counsel, IRS Office of Chief Counsel in NY.
Keywords: conservation easement, 170(h), 8283, qualified appraisal, qualified appraiser, restricted gift, merger, bankruptcy, extinguishment, swap, recordation, valuation, syndication
JEL Classification: L31, N50, Q15, Q24, R14
Suggested Citation: Suggested Citation