July 15, 2024
The Fourth Circuit rejected Monday a married couple's bid to revive a claimed $5.1 million conservation easement deduction, saying it represented a "remarkable" attempt to inflate the value of a 41-acre property that was worth just $652,000 the year before they donated it.
May 10, 2024
The Fourth Circuit appeared poised Friday to rule that a couple owes taxes and penalties after claiming an inflated $5.1 million valuation on donated land for deductions, with one judge positing he believed the couple had engaged in "abuse" of a conservation donation.
September 01, 2023
Married medical doctors who donated property rights in Hampton Island, Georgia, for environmental protection were wrongly denied a $2.1 million tax deduction and unfairly slapped with a steep valuation penalty by the U.S. Tax Court, the couple told the Fourth Circuit.