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Conservation Tax Credit Internal Revenue Service

Burr & Forman

Conservation Easements: Building Envelopes Doom Donation

Burr & Forman on

The Tax Court recently issued a full T.C. opinion which will impact a tremendous number of conservation easement donations. In Pine Mountain Preserve, LLLP v. Commissioner, 151 T.C. 4 (2018) the Tax Court found a reservation...more

Coblentz Patch Duffy & Bass

Tax Court Upholds Amendment Clauses But Continues Attack On Floating Homesites In Conservation Easements

When the Tax Court issued its opinion in Pine Mountain Preserve, LLLP v. Commissioner of Internal Revenue, 151 T.C. 14 (December 27, 2018), the conservation community gave a collective sigh of relief because the court...more

Coblentz Patch Duffy & Bass

Tax Court Declines to Follow First Circuit Ruling on Mortgage Subordinations & Conservation Easements

This month, the Tax Court revived a method to defeat conservation deductions with its October 10 opinion published as Palmolive Building Investors LLC et al. v. Commissioner, No. 23444-14; 149 T.C. No. 18 (Oct. 10, 2017),...more

Miles & Stockbridge P.C.

Fourth Circuit Finds Disguised Sale of VA Land Conservation Tax Credits

In Route 231, LLC v. Commissioner, 117 AFTR 2d 2016-XXXX (4th Cir. 2016), the U.S. Court of Appeals for the Fourth Circuit held that certain funds received by the taxpayer constituted income from the sale of Virginia land...more

Williams Mullen

U.S. Tax Court Ruling in State Conservation Tax Credit Case Requires Income Recognition

Williams Mullen on

In its recently issued opinion in the case of Route 231, LLC v. Commissioner, T.C. Memo 2014-30 (2/24/14), the United States Tax Court (the “Court”) held that a transfer of state tax credits to a 1% member who had contributed...more

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