On October 2, 2024, the U.S. Department of Justice indicted Kenneth Newcombe and Tridip Goswami, two former executives at CQC Impact Investors LLC ("CQC"), for allegedly selling fraudulent carbon offset credits to private...more
10/23/2024
/ Carbon Capture and Sequestration ,
Carbon Emissions ,
CFTC ,
Corporate Governance ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Indictments ,
Internal Revenue Code (IRC) ,
IRS ,
Offsets ,
Securities and Exchange Commission (SEC) ,
Tax Credits
In the late 1990s, former Atlanta Braves players John Smoltz and Ryan Klesko formed Big K Farms (“Big K”), a partnership that, over the years, acquired approximately 1,500 acres of land in Georgia for around $4 million. From...more
In the latest victory for taxpayers, the Tax Court determined that the Treasury failed to follow federal law in enacting a conservation easement perpetuity rule known as the “proceeds regulation.” The majority opinion held...more
Two recent tax court cases paint an ominous picture for professionals and investors who participated in listed syndicated conservation easement transactions. Coming on the heels of the Fisher conviction and his lengthy...more
3/7/2024
/ Appraisal ,
Charitable Donations ,
Conservation Easements ,
Fair Market Value ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Court ,
Tax Deductions ,
Tax Fraud ,
Tax Liability ,
Tax Planning
Judge Batten, Chief United States District Judge for the Northern District of Georgia, handed down lengthy sentences in the first-of-its-kind criminal trial related to syndicated conservation easements (“SCEs”). On January...more
1/22/2024
/ Conservation Easements ,
CPAs ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Fraud ,
Government Investigations ,
Internal Revenue Code (IRC) ,
Investment ,
IRS ,
SCE ,
Tax Deductions ,
Tax Liability
Only months after the U.S. Tax Court and the 6th Circuit Court of Appeals ruled that the IRS failed to adhere to the Administrative Procedures Act when it promulgated Notice 2017-10 and designated most Syndicated Conservation...more
1/12/2023
/ Charitable Donations ,
Conservation Easements ,
Federal Budget ,
Internal Revenue Code (IRC) ,
IRS ,
Pass-Through Entities ,
Regulatory Reform ,
Tax Deductions ,
Tax Liability ,
Tax Planning ,
Tax Reform