Daily Tax Report ®

More Conservation Land Deal Promoters Face Proposed Class Action

July 6, 2020, 10:55 PM

A proposed class action alleges that a network of land deal promoters and property appraisers engaged in a racketeering enterprise to promote tax-advantaged transactions that they knew were flawed.

The lawsuit is the second potential class action brought by firms Loewinsohn Flegle Deary Simon LLP and The Saylor Law Firm LLP targeting alleged promoters of syndicated conservation easements. That type of deal, which involves a tax deduction under tax code Section 170(h) available for donations of property rights to promote conservation, was flagged by the Internal Revenue Service on its most recent “Dirty Dozen” list of alleged...

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