Statute
Internal Revenue Code Section 170(h)
20 published works
Agricultural Law and Taxation Blog
Conservation Easement Valuation Upheld – Reasonable Cause Defense at Issue
OverviewThe donation of a permanent conservation easement on farm or ranch land can provide a significant tax benefit to the donor. The donor can receive an income tax deduction equal…
Nonprofit Law Prof Blog
Flynn on Restoring the Conservation Purpose in Conservation Easements
Andrew Flynn (Ropes & Gray law firm) has published Restoring the Conservation Purpose in Conservation Easements: Ensuring Effective and Equitable Land Protection Through Internal Revenue Code Section 170(h) in the…
Rocky Mountain Conservation Easement Law
IRS Chief Counsel Advice Memorandum on Extinguishment Proceeds Clauses
By Melinda Beck
On July 30, 2021, the Office of Chief Counsel of the Internal Revenue Service (IRS) released a Chief Counsel Advice Memorandum 202130014 on the requirements of I.R.C. Section 170(h) and…
Nonprofit Law Prof Blog
Conservation Easements: Today’s Biggest Charitable Contribution Deduction Loophole?
How large is the potential for hard-to-detect and even harder-to-counter abuse when it comes to the federal income tax deduction for "qualified conservation contributions" under Internal Revenue Code section 170(h)?…
Agricultural Law and Taxation Blog
Permanent Conservation Easement Donation Opportunities and Perils
The donation of a permanent conservation easement on farm or ranch land can provide a significant tax benefit to the donor. The rules are complex and must be carefully complied…
Nonprofit Law Prof Blog
Balsam Mountain v. Commissioner—Conservation Easement Authorizing Limited Swaps Not Deductible Under § 170(h)
In Balsam Mountain v. Commissioner, T.C. Memo. 2015-43, that Tax Court held that a conservation easement that authorized the parties, for a period of up to 5 years, to remove…
Nonprofit Law Prof Blog
Mitchell v. Commissioner—10th Circuit Affirms Tax Court, Mortgages Must Be Subordinated When Conservation Easement is Donated
In Mitchell v. Commissioner, _ F.3d _ (10th Cir. 2015), the 10th Circuit Court of Appeals affirmed the Tax Court’s holding that, to be eligible for a deduction for the…
Nonprofit Law Prof Blog
Belk v. Commissioner—4th Circuit Confirms That Swappable Conservation Easements Are Not Deductible
In Belk v. Commissioner, No. 13-2161 (Dec. 16, 2014), the 4th Circuit affirmed a Tax Court ruling that a conservation easement that authorized the parties to agree to “substitutions” or…
Nonprofit Law Prof Blog
Schmidt v. Commissioner—Conservation Easement Overvalued But No Penalties Imposed
In Schmidt v. Commissioner, T.C. Memo. 2014-159, the Tax Court determined that the value of a conservation easement for purposes of a federal charitable income tax deduction under IRC §…
Nonprofit Law Prof Blog
Zarlengo v. Commissioner—Conservation Easement Overvalued and Not Protected In Perpetuity Until Recorded
Zarlengo v. Commissioner, T.C. Memo. 2014-161, involved a façade easement that Dr. Zarlengo and his ex-wife donated to the National Architectural Trust (NAT) effective in 2005. The Zarlengos had purchased…