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Conservation easement

Tax Court – Deed of easement didn’t meet written acknowledgment rules, so no charitable deduction

Tax Court – Deed of easement didn’t meet written acknowledgment rules, so no charitable deduction

French, TC Memo 2016-53 The Tax Court has held that a deed of easement didn’t meet the charitable deduction contemporary written acknowledgement requirements of Code Sec. 170(f)(8)(B) and therefore the taxpayer didn’t qualify for a charitable deduction.  Click here for the Opinion of the Court. Background. Code Sec. 170(f)(8)(A) provides that no deduction is allowed […]

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Washington Alert – Applications for Low Income Taxpayer Clinic (LITC) grants; Conn senators question charitable donations of conservation easements; Revisions of Publication 974, Premium Tax Credit; JCT paper on Present Law, Data, and Selected Proposals Relating to Multiemployer Defined Benefit Plans

Washington Alert – Applications for Low Income Taxpayer Clinic (LITC) grants; Conn senators question charitable donations of conservation easements; Revisions of Publication 974, Premium Tax Credit; JCT paper on Present Law, Data, and Selected Proposals Relating to Multiemployer Defined Benefit Plans

IRS announced that it is soliciting applications for “part-year” Low Income Taxpayer Clinic (LITC) matching grants from qualified organizations in specific geographic areas. (IR 2016-31) The supplemental application period will run from Mar. 1 to Apr. 1. LITCs provide representation to low-income taxpayers and education regarding taxpayer rights and responsibilities to individuals who speak English […]

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Court of Appeals, 9th Circuit affirms: late mortgage subordination doesn’t save easement deduction

Court of Appeals, 9th Circuit affirms: late mortgage subordination doesn’t save easement deduction

Minnick, (CA 9 8/12/2015) 116 AFTR 2d ¶ 2015-5137 The Court of Appeals for the Ninth Circuit, affirming the Tax Court, has upheld IRS’s disallowance of a qualified conservation contribution deduction for property subject to a mortgage where the taxpayers didn’t have a subordination agreement from the bank in place on the date of the […]

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Tax Court – Right to alter property’s boundaries defeats conservation easement deduction

Tax Court – Right to alter property’s boundaries defeats conservation easement deduction

Bosque Canyon Ranch, TC Memo 2015-130 The Tax Court has concluded that a limited partnership wasn’t entitled to claim a charitable contribution deduction for a conservation easement because it failed to qualify as a “qualified real property interest” under Code Sec. 170(h)(2)(C). The restrictions on the use of the property weren’t granted in perpetuity as […]

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Tax Court: No Conservation Easement Where Taxpayer Reserved Right To Alter Property’s Boundaries

Tax Court: No Conservation Easement Where Taxpayer Reserved Right To Alter Property’s Boundaries

Balsam Mountain Investments, LLC, TC Memo 2015-43 The Tax Court has concluded that a taxpayer wasn’t entitled to claim a charitable contribution deduction for a conservation easement because it failed to qualify as a “qualified real property interest” under Code Sec. 170(h)(2)(C). The donated interest wasn’t one in an identifiable, specific piece of real property […]

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Tax Court Decision: Pre-Easement Historic District Restrictions Made Taxpayers’ Conservation Easement Worthless

Tax Court Decision:  Pre-Easement Historic District Restrictions Made Taxpayers’ Conservation Easement Worthless

Chandler, (2014) 142 TC No. 16.  The Tax Court has concluded that a preservation easement that taxpayers granted on property to a exempt organization had no value because the façade was already subject to similar restrictions as a result of the property being in an historic district. Accordingly, no charitable contribution deduction was allowed. The […]

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Tax Court again finds no conservation easement where parties could agree to terminate

Tax Court again finds no conservation easement where parties could agree to terminate

On reconsideration of its previous opinion in light of the later First Circuit’s Kaufman decision, the Tax Court in Carpenter, et al v. Commissioner, T.C. Memo 2013-172, has continued to hold that taxpayers weren’t entitled to a charitable contribution deduction for their donation of conservation easements to a charitable organization. Based on the terms of […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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