Day: Friday, May 1, 2015
Time: 1:00 PM - 2:15 PM
Title: Trying Times: Important Lessons to be Learned from Recent Federal Tax Cases Involving Conservation Easement Donations
Description: Since 2005, the courts have issued almost 70 decisions involving challenges to deductions claimed under IRC ยง 170(h) for easement donations (14 in 2014 alone). These decisions address a variety of qualification, valuation, and other compliance issues. The presenters will discuss the lessons to be learned from this growing body of case law as well as the IRS's continued emphasis on administrative and perpetuity issues and renewed emphasis on valuation. This is a unique opportunity for Maryland land trust professionals and practitioners to learn first-hand from IRS attorneys about the issues the agency is focusing on and how to minimize the risk of audit and litigation. In addition, attorneys and land trust professionals have found the 100+ page outline prepared by Professor McLaughlin for the session to be an excellent resource.
Track: Emerging Issues & Special Topics
Level: All
Lead Presenter: Nancy A. McLaughlin: Robert W. Swenson Professor of Law - University of Utah College of Law
Co-Presenter(s): Deena M. Devereux: Attorney - IRS Office of Chief Counsel
Karin Gross: Supervisory Attorney - IRS Office of Chief Counsel