Van Alen v. Commissioner
About This Legal Opinion
Taxpayers failed to report income from a conservation easement sale. The IRS assessed deficiences which the Tax Court upheld and assessed penalties.
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Gorra v. Commissioner
The Court found the easement complied with the purposes and perpetuity tests but found that the value was much less that taxpayers claimed although not zero as the IRS claimed. Penalties assessed.
Turner v. Commissioner (Opening Brief of Respondent)
Tax Court held that the easement did not meet the open space conservation purpose test and failed the historic preservation test because it did not protect the property’s natural condition that contributed to the historical nature of the surrounding properties. Penalties assessed.
IRS Circular 230 Disclosure - Daniel Gomez et ux. v.
Gomez went to tax court where the tax court found lack of substantiation and denied the deduction and assessed penalties.
Butler v. Commissioner of IRS
The Tax Court found for the taxpayers on the conservation purposes and reserved rights issues and reduced the valuation by 50% but did not assess penalties.
Bosque Canyon Ranch, L.P. v. Commissioner
The Tax Court ruled for the IRS in all respects following Belk and assessed gross valuation misstatement penalties. In a 2-to-1 split decision, the Fifth Circuit reversed and remanded. This important case limited the reach of Belk and Balsam Mountain.
Esgar v Commissioner (I)
The IRS the conservation easements donated on a gravel pit was valueless and that any proceeds from the sales of the State tax credits should be reported as ordinary income. The court upheld the IRS disallowance.
Davis v Commissioner
This is a bargain sale of land case. The court denied the IRS disallowance of the deduction.
Esgar v Commissioner (II)
Tenth Circuit held that the Tax Court analysis of highest and best use properly assessed the immediate or remote likelihood of the property being developed as a commercial gravel operation and did not err in using eminent domain valuation concepts and law and shifted the burden of proof to the IRS.
Graev v. Commissioner
The Tax Court held for the IRS, finding that the cash and easement gifts were rendered conditional by the side letter, and that the possibility that the IRS would disallow the deductions was not 'so remote as to be negligible.' Tax Court upheld a 20% overvaluation penalty .
Hewitt v. Commissioner
The IRS challenged a CE deduction due to flawed termination proceeds provision, a flawed Form 8283, and overvaluation. The Tax Court denied the deduction in its entirety because the termination proceeds provision allowed for a subtraction of value based on improvements and assessed a 40% penalty.