Poor Appraisal

[djd09]

• Poor Appraisal Reports Sink Conservation Easements at Tax Court​

  
  
• Easement deductions overstated land value, so penalties apt
• Appraiser ‘copied and pasted directly from Wikipedia articles’

Four partnerships can’t claim a total of more than $62 million in conservation easement tax deductions where their efforts to appraise the land involved unattributed material from Wikipedia and predetermined valuations, the US Tax Court ruled Monday.

Judge Joseph W. Nega said the partnerships’ easements, which cover 432 acres of rural land east of the Atlanta metropolitan area, didn’t obtain a qualified appraisal. The court “does not assign any credibility to the reports produced” by Thomas Spears, the partnership’s appraisal expert who testified as to one of the easements at trial, the judge wrote.

In a conservation easement, a land ...

Poor Appraisal Reports Sink Conservation Easements at Tax Court

Four partnerships can’t claim a total of more than $62 million in conservation easement tax deductions where their efforts to appraise the land involved unattributed material from Wikipedia and predetermined valuations, the US Tax Court ruled Monday.

news.bloombergtax.com

i love copying and pasting....

 

[Red Flint]

Interesting read, 2015, Martin Marietta property 184 acres and Baker Dairy Farm, among others, about 30 miles from Atlanta

Lack of Qualified Appraisals Leads to Easement Deduction Denials | Tax Notes

The Tax Court, in consolidated partnership cases challenging the disallowance of charitable contribution deductions for conservation easement donations, held that

www.taxnotes.com

 

[Terrel L. Shields]

Colorado was home to a huge CE scandal and cost several appraisers their careers.

An Examination of Court Opinions on the Enforcement And Defense of Conservation Easements and Other Conservation and Preservation Tools - Themes and Approaches To Date - Conservation Tax Center Library

This article surveys conservation easement enforcement and defense decisions to date, and examines those decisions under the rubric of several general themes

www.landcan.org

 

[Vernon Martin]

I recently received a $10,000 whistleblower award check for a CE fraud I exposed in Texas in 2013. 12 years later, I ask the IRS "You guys still remembered me?" Of course, they withheld taxes for me.

 

[djd09]

I recently received a $10,000 whistleblower award check for a CE fraud I exposed in Texas in 2013. 12 years later, I ask the IRS "You guys still remembered me?" Of course, they withheld taxes for me.

you should of hit them with late fees and interest...