In the wake of adverse decisions in the Sixth Circuit and the Tax Court, the IRS proposed regulations that identify certain syndicated conservation easement transactions as listed transactions.
The IRS intends to finalize the proposed regulations (REG-106134-22), after due consideration of public comments, in 2023.
Although the IRS disagrees with the Tax Court decisions, the IRS said it would propose regulations identifying certain conservation easement syndicate transactions as listed transactions “to avoid confusion and to prevent disruption of the IRS’s ongoing efforts to identify and examine abusive tax shelters throughout the nation.”
The IRS requests interested parties to submit comments on the proposed regulations by Feb. 16, 2023. Learn more.