The Presumption of Innocence Podcast: Episode 21 - Conservation Easement Donations: Tax Shelter or Charitable Contribution Deduction?
The Koontz Decision: Limits Conditions a Government can Impose on Developers
In the late 1990s and early 2000s, the IRS was confronted with a proliferation of corporate transactions that it viewed as aggressive tax shelters. Relying on the authority Congress delegated through Section 6011(a), the IRS...more
In holding that that Treas. Reg. § 1.170A-14(g)(6)(ii) (Proceeds Regulation) is procedurally invalid under the Administrative Procedure Act (APA), the U.S. Tax Court abandoned its precedent in Oakbrook Land Holdings, LLC v....more
On Dec. 29, 2022, the United States Congress passed the SECURE 2.0 Act of 2022 (SECURE Act 2.0). Section 605(d) of the SECURE Act 2.0 gave conservation easement donors a safe harbor to amend provisions relating to...more
The Second District Court of Appeal’s decision in Canyon Vineyard Estates I, LLC v. DeJoria sidesteps several potentially troublesome conveyancing issues by focusing on the statutory authorization for “conservation easements”...more
The language in conveyance and real estate documents impacts the type of property interests that are created and conveyed and defines the scope of those interests. The importance of documentary language was crucial in a...more
The Pennsylvania Fish and Boat Commission (the “Commission”) recently announced that it is looking for Pennsylvania landowners with stream frontages to enter into conservation easement agreements in exchange for a one-time...more
In recent years, Colorado has developed and implemented one of the most comprehensive conservation easement (CE) income tax credit programs in the country, reflecting a state policy of incentivizing preservation of lands with...more
In 2018, the CEQA Guideline which defines the term “mitigation” was amended to add “conservation easements” to the list of measures that can provide “compensatory” mitigation for an environmental impact. Guideline §15370(e)....more
On June 11, 2019, the IRS and U.S. Department of Treasury issued final regulations requiring taxpayers to reduce their charitable contribution deduction by the amount of any state or local tax credits received (or expected to...more
In Pine Mountain Preserve the Tax Court determined in a full-court opinion that the section 170 “perpetuity” requirement was not satisfied where an easement permits landowners to move the location of future structures within...more
In Palmolive Building Investors, LLC v. Commissioner, 149 T.C. No. 18, the Tax Court denied a charitable contribution deduction of a donated façade easement because the easement deed failed to satisfy the perpetuity...more
On November 4, 2016, the IRS updated its Conservation Easement Audit Techniques Guide (CE Audit Guide) for the first time since March 15, 2012. According to the IRS’s introduction on its Audit Techniques Guide website,...more
Conservation easements are an effective tool for tax and estate planning and there are significant tax benefits to implementing them in 2013....more