Episode 21

Conservation Easement Donations: Tax Shelter or Charitable Contribution Deduction?

WA backlog of conservation easement Tax Court cases and IRS audits are dramatically impacting investors, and could for years to come. Will incoming leadership changes and movement from Congress resolve pending cases? In an eye opening discussion, Matt Lee, Co-Chair of Fox Rothschild’s White-Collar Criminal Defense & Regulatory Compliance Practice Group, and Brian Bernhardt, a partner in the Taxation & Wealth Planning Practice Group, take a deep dive into the IRS concerns. This episode explores reasons behind the lengthy audit process, who the IRS is targeting and the penalties for using charitable contributions as a tax shelter. Listeners interested in setting up a conservation easement for its intended purpose will learn tips and best practices to mitigate legal and financial risks, and explore the anticipated future of land preservation from a tax perspective.