Tax Planning With Conservation Easements
Structuring Deals After Historic Boardwalk Hall and Other IRS Challenges; Pairing With Other Tax Credits
Recording of a 110-minute CLE/CPE webinar with Q&A
Conducted on Thursday, March 7, 2013
Recorded event now available
This teleconference will explain the tax advantages and potential tax treatment of conservation easements. The panel will discuss recent case law developments, how to structure easements to avoid IRS challenges, and how to pair conservation easements with the historic tax credit.
Description
Conservation easements granted in perpetuity as a charitable donation can provide donors with significant income, estate and property tax planning opportunities if structured properly.
The charitable contribution deduction for conservation easements has been under heightened IRS scrutiny in recent years. The IRS has frequently challenged the valuation of the easement, and also attacked other deficiencies in structuring transactions. Several critical tax court cases were decided in 2012.
Moreover, the 3rd Circuit’s Historic Boardwalk Hall ruling regarding a historic tax credit transaction could also have a significant impact on existing and planned tax credit structures for conservation easement transactions.
Listen as our authoritative panel of practitioners reviews tax planning opportunities with conservation easements and recent IRS scrutiny of the charitable donation. The panel will explain how to structure easements to avoid IRS challenges and pair conservation easements with the historic tax credit.
Outline
- Tax planning opportunities with conservation easements
- Potential IRS challenges to the charitable donation of conservation easements
- Recent case law developments
- Structuring easements to avoid IRS challenges
- Pairing conservation easements with the historic tax credit
Benefits
The panel will review these and other key questions:
- What are common IRS challenges to conservation easement donations?
- What lessons does recent case law provide on elements practitioners should consider when structuring conservation easements to minimize challenges by the IRS?
- What is the potential impact of the Historic Boardwalk Hall ruling on existing and planned tax credit structures for conservation easement transactions?
- How can conservation easements be paired or combined with the historic tax credit?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Upon completing this seminar, you will understand the tax advantages and potential tax treatment of conservation easements, how to structure easements to avoid IRS challenges, and how to pair conservation easements with the historic tax credit.
Faculty
Anthony Ilardi, Jr., Member
Dykema,
Bloomfield Hills / Detroit, Mich.
He is in the Taxation Practice Group, and concentrates on counseling developers, lenders, investors and community development entities with respect to federal and state tax credits and other economic development incentives. He focuses on tax planning for businesses, individuals, partnerships and limited liability companies, and advises clients on the tax aspects of real estate development.
David M. Wooldridge, Shareholder
Sirote & Permutt,
Birmingham, Ala.
His practice focuses on tax litigation and tax controversy cases. Most recently, he has had a particular emphasis on defending conservation easements including the landmark Kiva Dunes case in US Tax Court. His 31 years of practice has included tax planning, state & local tax issues, family succession and business planning, shareholder oppression, and director and fiduciary liability issues.
Anson H. Asbury, Principal
Asbury Law Firm,
Atlanta
He has over 14 years experience in federal and state taxation, specializing in tax controversy and litigation. Before founding the Firm, he was in house tax counsel to one of the largest U.S. publicly traded companies. He was a member of the tax controversy team at Chamberlain Hrdlicka in Atlanta, and a corporate tax consultant in the New York office of two international public accounting firms.
Recordings
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Program Materials
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Program Materials
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Tax Law Advisory Board
Partner
Capell Barnett Matalon & Schoenfeld
Associate Dean, Special Projects
Texas A&M University Law
Senior Partner
Polsinelli
Tax Partner
Steptoe & Johnson
Principal
Cummings & Lockwood
Partner
Kilpatrick Townsend & Stockton
Of Counsel
Morrison & Foerster
Partner
Hinckley Allen
Partner and Practice Group Leader - Tax
Waller Lansden Dortch & Davis
Partner
Alston & Bird
Partner
BakerHostetler
Partner
Smith Gambrell & Russell
Partner, Cross-Border Transactions Tax
Fraser Milner Casgrain
Partner
Arent Fox
Partner, Tax-Exempt Organizations
Steptoe & Johnson
Partner, Corporate Tax and Due Diligence
Pepper Hamilton
Partner
Morgan Lewis
Shareholder
Buchanan Ingersoll & Rooney
Peter Stathopoulos
Managing Director, State and Local Tax Practice
Bennett Thrasher
Partner & Co-Chair, State & Local Tax Practice
Sutherland Asbill & Brennan
Shareholder
Lowndes Drosdick Doster Kantor & Reed
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