Norcave’s Third Bid to Block IRS Summonses Over Easement Fails

Norcave Properties LLC, a firm at the center of a long-running fight over a $108 million deduction it took for a syndicated conservation easement deal, again failed in its bid to stop the IRS from issuing summonses to third parties as part of the agency’s investigation.

The US District Court for the Eastern District of Missouri said Norcave lacked standing to challenge the summonses on the ground that the third-party recipients would have difficulty complying, as those arguments should be left for said parties to raise themselves.

• Norcave filed three separate suits between 2022 and 2023 over 37 IRS summonses ...