- within Insurance and Corporate/Commercial Law topic(s)
The IRS has been closely scrutinizing syndicated conservation easements since December 2017. In 2020, there have been some important developments in this area. First, in June 2020 the IRS announced a time-limited settlement opportunity for certain docketed Tax Court cases. Second, in August and September 2020, the Senate Finance Committee issued a report and data quantifying the amounts that syndicated conservation easements have allegedly cost the U.S. government. Third, some affected taxpayers have filed a class-action lawsuit against promoters of syndicated conservation easements.
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