News & Analysis as of

Tax Deductions Conservation Easements Appraisal

Polsinelli

Tax Court Strikes out Smoltz and Klesko’s Big K SCE, but Provides Relief for Those Facing Fraud Allegations

Polsinelli on

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

Polsinelli

Bare Knuckle Conservation Easement Brawl Leaves Participants in Limbo

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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

Polsinelli

Slogans and Insults: Fisher Defendants Respond to the Government’s Novel Conservation Easement Case

Polsinelli on

Last week, the first federal criminal trial related to syndicated conservation easement (“SCE”) deals began with impaneling the jury and opening statements. Each of the Fisher defendants on trial, Jack Fisher, James Sinnott,...more

Polsinelli

Appraiser Pleads Guilty to Fraud in Syndicated Conservation Easement Case

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Polsinelli’s Government Investigations and Tax attorneys continue to follow the well-known Fisher case, the Department of Justice’s ("DOJ") first criminal indictment related to syndicated conservation easements. Walter...more

Burr & Forman

Senate Finance Committee Probing Conservation Easement Abuse

Burr & Forman on

On March 27, 2019, the Senate Finance Committee launched an investigation into the abuse of syndicated conservation easement transactions. The transactions being investigated involve promoters selling interests in tracts of...more

Coblentz Patch Duffy & Bass

Happy New Year’s Tidings for Land Trusts and Other Conservation Advocates

The Department of Justice has finally filed a civil complaint against certain promoters who have been spearheading syndicated easements to the tune of over $2 billion in claimed federal tax deductions using grossly inflated...more

Coblentz Patch Duffy & Bass

IRS Publishes New Gift Substantiation Regulations

Last month, the IRS issued final regulations entitled “Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions,” codified as Treasury Regulation Sections 1.170A-15 (cash), -16...more

Balch & Bingham LLP

Conservation Easements FTW! Or, Eagles 1; IRS 0

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What’s a real estate developer to do when its pristine development site, with beautiful ocean views and room for between 164 and 410 upscale residential units that *NEED NOT BE BUILT, is clogged with wildlife, including bald...more

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