Topic
Conservation Easements
399 published works
Tax Controversy Report
Tax Court Holds IRS Complied with Supervisor Approval Requirement
The Tax Court’s recent opinion in Roth v. Commissioner, T.C. Memo. 2017-248, raises interesting issues about the need for supervisor approval when the IRS asserts penalties. In 2007, the petitioners…
Wills, Trusts & Estates Prof Blog
Article on Enhancing Conservation Options: An Argument for Statutory Recognition of Options to Purchase Conservation Easements (OPCEs)
Federico Cheever & Jessica Owley recently published an Article entitled, Enhancing Conservation Options: An Argument for Statutory Recognition of Options to Purchase Conservation Easements (OPCEs), 47 Envtl. L. Rep. News…
Law on Purpose
Tax Court Declines to Follow First Circuit Ruling on Mortgage Subordinations & Conservation Easements
This month, the Tax Court revived a method to defeat conservation deductions with its October 10 opinion published as Palmolive Building Investors LLC et al. v. Commissioner, No. 23444-14; 149…
Agricultural Law and Taxation Blog
The “Perpetuity” Requirement For Donated Easements
OverviewA popular tax technique for certain taxpayers, including farmers and ranchers, involves the donation of a permanent conservation easement. A conservation easement is a voluntary restriction on the use of…
Tax Controversy Report
Conservation Easements: Easement Deed Fails to Satisfy Perpetuity Requirement
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…
Tax
Courts Issue Victories to Conservation Easement Donors
August brought three wins for taxpayers who donated conservation easements that were challenged by the IRS. In all of the cases, terms of the conservation easement deed document carried the day. …
Law on Purpose
New Cases Send Mixed Messages to Conservation Easement Donors
The Fifth Circuit encourages flexibility for conservation easement deductions in Bosque Mountain Ranch, while the Tax Court makes it difficult for farmers in Rutkoske. Two important conservation easement opinions were…
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
When Is A Farmer Not A “Qualified Farmer” For Conservation Easement Donation Purposes?
OverviewLast fall, I devoted a blog post to the definition of a “farmer” for various provisions of the Code. In that post, I pointed out how many variations there are…
Law on Purpose
Unsurprising Façade Easement Holding by Tax Court: Conservation Easement Must Be Recorded to Qualify for Deduction
Those familiar with conservation easements know that to qualify for a federal tax deduction, a conservation easement must meet several rigorous requirements found in Internal Revenue Code Section 170 and…