Years after identifying a pattern of potentially abusive land conservation deals, the IRS has offered to settle a number of pending cases with a warning that it is the best deal participants will get.
Tax code Section 170(h) allows for substantial tax deductions if land owners donate the right to develop their property in order to conserve it.
The offer targets syndicated conservation easements in particular, where promoters come together to encourage investors to purchase ownership interests in property through partnerships, using promotional materials that may suggest that prospective investors can get a share of the tax deduction ...
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