IRS offers limited settlements for easements

The IRS is set to offer limited-time settlements for taxpayers involved in syndicated conservation easement cases.

These easements allow property owners to claim tax deductions for conservation efforts, but the IRS said some promoters have misused them, leading to legal challenges.

“While properly structured conservation easements can provide important public benefits, promoter-driven transactions are often built on inflated valuations that can lead to disallowed deductions, substantial penalties and other consequences,” the IRS said.

The IRS will soon announce terms for these settlements, aiming to help eligible taxpayers resolve their tax issues. Read more.