Syndicated Conservation Easements are targeted
Syndicated Conservation Easements are targeted for the past six years. Government officials have tried even harder to kill a type of tax avoidance scheme that the Internal Revenue Service has branded “abusive” and among “the worst of the worst tax scams.”
The IRS has pursued tens of thousands of audits and warned of hefty penalties facing anyone who exploits it. The Justice Department has targeted top promoters of what it calls “fraudulent” deals with criminal charges and civil lawsuits, yielding several guilty pleas and a civil settlement.
In Congress, Democrats and Republicans have united to sponsor legislation to abolish the practice. The government is targeting a tax deduction that goes by the cumbersome name “syndicated conservation easement,” according to Lance Wallach, tax expert and expert witness.
Contact Lance at 516-236-8440 or Wallachinc@gmail.com