Stakeholders urge IRS to retain carveout in syndicated conservation easement regs

“The donee organizations are not responsible for the value of donated property,” said Andrew Bowman of the Land Trust Alliance, adding that the Tax Code, Treasury Department regs, or IRS rules and forms “do not impose any such burden on donee organizations for the good reason that such organizations do not have the knowledge control, legal rights, or responsibility to demand information sufficient to approve an appraisal or any part of a donor-structured transaction.”

“If it isn’t broke, don’t fix it,” said Bowman.