An Unwelcome Gift From The IRS On Conservation Easements

Law360, New York (January 9, 2017, 5:46 PM EST) -- Ronald Levitt

David Wooldridge As taxpayers settled into the holidays on December 23, the IRS slipped an unwelcomed present under the tree. Among the growing number of 11th-hour edicts by the outgoing administration, Notice 2017-10 declared some conservation easement donations to be “listed transactions,” giving a chill to many year-end donations. No doubt the chilling effect of Notice 2017-10 was intended by the IRS to discourage a popular type of conservation easement donation.

The deduction for donating conservation easements is an innovative conservation funding mechanism and...
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