'This Is No Sweetheart Deal - And It Should Not Be One'
WASHINGTON, June 25, 2020 /PRNewswire-PRWeb/ -- On Thursday, the IRS announced a settlement offer to certain taxpayers with pending docketed Tax Court cases involving syndicated conservation easement transactions. The following statement can be attributed to Andrew Bowman, president and CEO of the Land Trust Alliance:
"I applaud IRS Commissioner Chuck Rettig and Chief Counsel Michael Desmond for their excellent work pursuing justice and protecting taxpayers. Their agency is now offering a firm but fair way forward for taxpayers that invested in syndicated conservation easement transactions. This is no sweetheart deal – and it should not be one. This is an emphatic reminder to all investors that they should steer clear of abusive conservation easement tax shelters.
"Congress can now put this issue to bed by passing the Charitable Conservation Easement Program Integrity Act. This bipartisan legislation is the fastest and most efficient way to stop continued abuse and save taxpayers billions of dollars.
"Because many promoters and investors continue to flout the government's attempts to curb abuse, the need for this legislation is urgent. A coalition of leading conservation and appraisal organizations have called on Congress to pass the Charitable Conservation Easement Program Integrity Act this year. Let's get this done."
More information about this issue is available at https://www.lta.org/integrity.
About the Land Trust Alliance
Founded in 1982, the Land Trust Alliance is a national land conservation organization that works to save the places people need and love by strengthening land conservation across America. The Alliance represents 1,000 member land trusts supported by more than 200,000 volunteers and 4.6 million members nationwide. The Alliance is based in Washington, D.C., and operates several regional offices. More information about the Alliance is available at http://www.landtrustalliance.org.
SOURCE Land Trust Alliance