United States: February 2023 tax news and developments
Recent developments across the three branches of government address the tax treatment of syndicated conservation easement transactions…
Source: lexology.com
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Responding to Recent Taxpayer Victories, IRS Issues Proposed Regulations Identifying Syndicated Conservation Easement Transactions as Listed Transactions | Insights
On Dec. 6, 2022, the IRS issued proposed regulations identifying syndicated conservation easement transactions as listed transactions for purposes of I.R.C. § 6011.
Source: gtlaw.com
IRS Proactive Approach to APA Challenges
Following defeat in Tax Court cases of Administrative Procedure Act, IRS issues proposed regulations identifying syndicated conservation easement transactions as listed transactions. This shows the IRS is taking a proactive approach in addressing the APA challenges.
Source: natlawreview.com
Big Win for Investors Facing Listed Transaction Penalties for Conservation Easements | Polsinelli
On November 9, 2022, in a 15-2 decision, the Tax Court held that the IRS improperly issued Notice 2017-10 in Green Valley Investors, LLC, et al. v. Commissioner of Internal Revenue, 159...
Source: jdsupra.com