Syndicated Conservation Deals Appear Marked For Extinction
Law360 (April 1, 2019, 6:50 PM EDT) -- The increase in government actions to limit the use of partnerships to claim outsized tax deductions meant for donating and conserving land indicates the likely end of a lucrative tax shelter that costs taxpayers billions of dollars annually.
Senate Finance Chairman Chuck Grassley, R-Iowa, right, and ranking member Ron Wyden, D-Ore., recently announced an investigation into 14 individuals believed to have been involved in operations that may have inflated the value of donated easements to avoid taxes. (AP) The Internal Revenue Service has been viewing syndicated partnership deals — in which property owned by a partnership is donated to a land trust...
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