Georgia Timber Exec’s Trust Sues IRS Over Easement Deduction

The family trust of a timber industry executive in Georgia said the IRS should allow it to deduct nearly $19 million for donating about 2,000 acres of land to charity.

The IRS was wrong to disallow Griffith Family Holdings LLLP’s $18.75 million conservation easement deduction because the trust satisfied all of the requirements under Internal Revenue Code Section 170, it told the US Tax Court in a petition filed May 27.

The donation in 2021 was handled properly and the agency hasn’t explained why it disallowed the deduction, the trust said.

Conservation easements are the source of a huge amount ...