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IRS Auditing Billions of Dollars of Land Conservation Deductions (1)

Nov. 12, 2019, 8:22 PMUpdated: Nov. 12, 2019, 10:02 PM

The IRS is conducting large-scale audits of land conservation transactions—targeting billions of dollars of potentially inflated deductions, hundreds of partnerships, and thousands of investors.

The agency is investigating appraisers, tax preparers, and any other individuals who may have helped organize and sell syndicated conservation easement deals in addition to those who participated in the transactions, it said in a Nov. 12 news release. The agency is also evaluating referrals practitioners have made to the IRS Office of Professional Responsibility.

Syndicated conservation easements are transactions that involve multiple people claiming a charitable deduction for donations of property that will ...