Audit Specialists Helping Investors With Syndicated Conservation Easement Audits
Syndicated conservation easements (SCEs) provide an investment opportunity for those looking to capitalize on tax deductions. A promoter brings a group of investors together to each purchase a parcel of a conservation easement (land stipulated with a limited use to protect its conservation value).
The investor is then given a tax deduction for the value of the parcel. However, the Internal Revenue Service (IRS) is scrutinizing these deductions intensely.
Why The Scrutiny?
According to the IRS, certain promoters have been regularly overinflating the reported land value of these conservation easements. The IRS alleges that, in turn, investors have reported inflated charitable tax deductions.
Whether the investor knows of the inflated value is irrelevant. The IRS is going after many investors and believes the problem is so pervasive that the agency says it will audit most or all SCEs for the foreseeable future.
Many have (and will) receive an “overstatement of value” notice with a whopping penalty – up 40% in some cases.
Tax Litigators Who Understand All Aspects Of SCEs
If you are an investor of a syndicated conservation easement, our tax specialists at Georgia Tax Attorney Group, LLC, have the knowledge and experience to help – with aptitude unmatched by many competitors.
Founding attorney Cal Bomar is a former IRS Chief Counsel. Attorney Charlie M. Shah has over two decades of experience and is recognized nationwide as a top tax litigator. Over the last several years, attorney Jonathan Slack has handled more tax court cases than any other lawyer in the Southeast.
Our team understands every aspect of SCE audits. Let us help you.
Schedule A Free Case Evaluation
Schedule an appointment today with one of our experienced tax litigation attorneys at Georgia Tax Attorney Group, LLC. We can discuss the process involved with tackling an IRS audit and possible resolution options.