IRS Pub.: Conservation Easement Audit Technique Guide (IRC §170)

Revised Publication 5464, Conservation Easement Audit Technique Guide, providing guidance for the examination of charitable contributions of conservation easements released November 19. The audit guide includes examination techniques and an overview of the valuation of conservation easements. The guide highlights deficiencies revealed in examinations of conservation easements to include: (1) failure to meet charitable contributions rules, for example the easement was granted in exchange for a change in zoning by the county (a quid pro quo); (2) noncompliance with substantiation requirements; (3) inadequate documentation of or lack of conservation purpose; (4) lack of perpetuity evidenced by terms in the ...