Many Tax Court cases have been decided based upon an obscure Treasury Regulation, upholding the IRS’ 100% disallowance of charitable conservation easement deductions. The 11th Circuit struck down the Regulation, holding that it is “arbitrary and capricious”. A rare win for taxpayers.
The Bloomberg article attached below was written by our own attorney, Nancy O. Kuhn.
A Rare Victory For Taxpayers in the Fight For Conservation Easements