The battle over a controversial tax deduction for land preservation is heating up.
The Land Trust Alliance, a conservation group, is reupping efforts to push for a bill curbing deals known as syndicated conservation easements, in which multiple individuals claim a tax deduction for donating property that will be protected from future development under Section 170(h). The IRS in 2016 flagged (Notice 2017-10) syndicated easements as tax-avoidance strategies, saying value of the land can be inflated to claim a larger deduction.
The urgency comes at a difficult time in the legislative calendar, with a narrowing number of...
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