The Department of Justice wants it shut down for promoting an “abusive tax scheme,” according to a lawsuit. Senate subpoenas have gone out. The Internal Revenue Service has pledged a broad crackdown.
Still, EcoVest Capital Inc., one of the best-known players in the market for so-called syndicated conservation easements, is pledging to continue promoting land-donation deals that the DOJ, in a lawsuit, says have resulted in “hundreds of millions of dollars of tax harm.”
“In 2019, Ecovest worked with the broker-dealers and financial advisers who know that the DOJ allegations are false, and so EcoVest’s business has continued,” Robert ...
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