Pleasing Mother Earth and the IRS: Conservation Easement Donations in the New Age of IRS Oversight Lessons from Recent Court Developments and Practical Drafting Advice.
The IRS has been aggressively auditing taxpayers who have donated conservation easements and claimed federal tax benefits, with a reported 1,459 landowners having been audited during 2005 to 2009. In addition, since 2006, the Tax Court, District Courts, and Circuit Courts have collectively issued fifteen court decisions addressing various issues relating to compliance with the federal tax law requirements applicable to conservation easement donations. Our panelists will discuss:
•Lessons to be learned from the recent case law;
•Practical drafting tips;
•The IRS’s perspective on the audits and the recent case law (based on the IRS panel discussion at the recent Land Trust Alliance national conference).
Advance preparation is the best way to avoid an IRS audit of tax benefits claimed with respect to conservation easement donations. Join us and learn how to draft conservation easements and otherwise structure easement donation transactions to avoid or at least minimize the risk of an IRS audit and litigation.
This American Bar Association Continuing Legal Education Telecast and webcast takes place on:
Tuesday, December 7, 2010
Format: Teleconference and Live Audio Webcast
Duration: 90 minutes
1:00 PM - 2:30 PM Eastern 12:00 PM - 1:30 PM Central
11:00 AM - 12:30 PM Mountain 10:00 AM - 11:30 AM Pacific
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