An individual with an annual income of $500k + was advised by another Tax professional to utilize the conservation program IRC 170 (h), which I'm not too familiar with. The essence of the suggestion was that he "invests" in a land development project (partnership) for $35K then get $160K in charitable donation (i.e. deduction) per investor through what they call " Land easement conservation ". Does anybody have experience with this area? Thanks in advance!
USA conservation program IRC 170 (h)
- Thread starter evergreen
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This tax structure is excellent!
But I mean only excellent for attracting the attention of the IRS Office of Fraud Enforcement.
Read these
www.forbes.com
www.jdsupra.com
But I mean only excellent for attracting the attention of the IRS Office of Fraud Enforcement.
Read these
Settling Conservation Easement Penalties: The IRS And Some New Insights
The Internal Revenue Service has yet again publicly reiterated its commitment to challenge syndicated conservation easement transactions.In a recent press release, the IRS warned yet again that it believes that these easement deductions are “abusive transactions.”
www.forbes.com
Conservation Easement Deductions: A Primer on Key Provisions | JD Supra
The IRS has been focused on enforcement efforts targeting conservation easement transactions. And IRS data indicates that more enforcement efforts...