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Tax Court Denial of Conservation easement; Enforcement Developments – Wealth Strategies Journal

Mar 19, 2020

Paul S. Labiner

Paul Labiner



Tax Court Tentatively Disallows Conservation Easement Deduction Due to Omitted Required Basis Information

The Tax Court disallowed a conservation easement charitable contribution deduction because the taxpayer’s return omitted the cost or adjusted basis of the donated property from the appraisal summary and rejected the taxpayer’s argument that it strictly or substantially complied with the regulatory requirements and upheld the validity of the regulations.

Supervisory Approval Must be Obtained Before the IRS Examination Function Formally Communicates Its Definite Decision to Impose Penalties
A divided Tax Court held that supervisory approval of a penalty under section 6751(b)(1) must be obtained before the issuance of a formal communication to the taxpayer of the definite decision of the IRS Examination Function to impose the penalty.

IRS Has the Initial Burden of Production Under Section 6751(B)(1) But Does Not Have to Prove A Negative
The Tax Court addressed the burden of production with respect to compliance with the requirements of Section 7651(b)(1) holding that after the IRS met its initial burden of production by introducing evidence demonstrating compliance with the requirements of Section 6751(b)(1), the burden shifted to the taxpayer to rebut the evidence.

Supervisory Approval Must be Obtained Before the Issuance of a 30-Day Letter Proposing an Assessable Penalty
The Tax Court case held that the IRS may not assess an assessable penalty under section 6707A unless it obtains supervisory approval before issuing a 30-Day Letter to the taxpayer that proposes to assess the penalty.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal..

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