IRS Listed Transactions Regulations: Frequently Asked Questions
About This Guidance
The Alliance has put together this FAQ to help land trusts navigate the complexity of the listed transactions regulations (26 CFR § 1.6011-9). The regulations have important implications for land trusts working on donations by pass-through entities. These regulations require “material advisors” to report certain types of these transactions to the IRS, and failing to do so can trigger a $200,000 penalty or more. The following are frequently asked questions the Alliance has received from the land trust community.
For assistance in determining if a particular project may be subject to the regulations, please consult:
Land Trust Decision Tree #1: Is this easement deduction disallowed pursuant to the Charitable Conservation Easement Program Integrity Act?
Land Trust Decision Tree #2: Is this donation a listed transaction?
Land Trust Decision Tree #3: Is your land trust a material advisor to a listed transaction?
We will continue to update it as new information becomes available. This FAQ is provided for educational purposes only and does not constitute nor should be relied on as legal, tax or other advice. Please consult qualified legal and tax counsel.
Disclaimer
These resources are provided "as is" for informational purposes only, without warranty of any kind. They do not constitute legal or professional advice and do not create an attorney-client relationship. They may not reflect current legal developments and should be adapted for your organization with qualified professional help. The Alliance is not liable for any damages arising from use of or reliance on these resources. Views in individual posts and third-party links/logos are not Alliance endorsements. The Alliance is committed to equal opportunity and does not condone unlawful discrimination.
For accreditation-related materials, please also consult the Land Trust Accreditation Commission website.