Proposed Georgia Mine Justifies $25 Million Deduction, Firm Says

A Georgia partnership says the IRS is unfairly discounting the value of its claimed conservation easement, and that its proposed use for the land is both practical and feasible.

Chickasaw Creek LLC petitioned the US Tax Court after the IRS denied a charitable contribution tax deduction of $25 million for donating a conservation easement in its 2020 tax year. Chickasaw Creek said the IRS improperly denied it the right to trial by jury and also argued that the IRS interpreted procedures wrong.

Chickasaw Creek’s tax matters partner—its sole representative before the court—is Winter Park, Fla.-based real estate firm TrueNorth Resources, ...