For Immediate Release
Contact: Jon Conradi
Washington, D.C. – Partnership for Conservation (P4C) chairman and president Robert Ramsay issued a statement welcoming recommendations included in the 2019 National Taxpayer Advocate’s Report released Tuesday relating to conservation easements.
“Partnership for Conservation commends the Taxpayer Advocate for endorsing common sense solutions to safeguard the integrity of the conservation easement program and provide greater clarity and guidance to taxpayers and regulators,” Ramsay said. “The establishment of safe harbor protections and implementation of clearer guidance are critical solutions that P4C has long advocated be considered by stakeholders and policymakers.”
“While P4C believes there should also be additional guard rails put in place to prevent limited instances of valuation abuse,” Ramsay continued, “these recommendations would provide taxpayers and regulators clearer guidance that would limit costly litigation and protect the conservation incentive passed and strengthened by Congress on multiple occasions.”
The 2019 National Taxpayer Advocate’s Report recommends (on page 203): “[IRS] Develop and publish guidance to provide safe harbors and/or sample easement provisions to provide taxpayers with examples of how they may construct a conservation easement deed that satisfies the statutory requirements and prevent unnecessary litigation.”
The full report can be found HERE.