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Abstract: 

In her 2018 Annual Report to Congress, the National Taxpayer Advocate identified nine court cases involving conservation easements, an increase over the five cases identified in the 2017 reporting period. Based on recent court filings, it is clear that conservation easements remain heavily litigated, and syndicated conservation easements are an area of particular concern. Taxpayers are required to provide information about these transactions to the IRS and are subject to significant penalties for failure to do so. On December 20, 2019, the IRS urged taxpayers involved in syndicated conservation easement arrangements to consult with their tax advisors. This article reviews recent cases involving conservation easements.

Keywords: Syndicated Conservation Easements; National Taxpayer Advocate Annual Report to Congress; The Coal Property Holdings Cases; TOT Property Holdings, LLC v. Commissioner

Affiliations:  1: Strasburger & Price LLP.