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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Thursday, March 27, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00
CLE
CPE
ALL

This CLE/CPE course will provide tax counsel and advisers guidance on critical tax issues concerning conservation easement transactions in light of IRS final regulations. The panel will discuss critical elements of the IRS final regulations and the impact on conservation easement transactions, address IRS assessments and audits, and offer techniques for defending conservation easement transactions.

Faculty

Michel R. Stein
Principal
Hochman Salkin Toscher Perez, PC

Mr. Stein specializes in tax controversies, as well as tax planning for individuals, businesses and corporations. For more than 25 years, he has represented individuals with sensitive issue civil tax examinations where substantial penalty issues may arise, and extensively advised individuals on foreign and domestic voluntary disclosures regarding foreign account and asset compliance matters. Mr. Stein is well respected for his expertise and judgment in handling matters arising from the U.S. government’s ongoing enforcement efforts regarding undeclared interests in foreign financial accounts and assets, including various methods of participating in a timely voluntary disclosure to minimize potential exposure to civil tax penalties and avoiding a criminal tax prosecution referral. Mr. Stein is a frequent lecturer at national and regional conferences on topics including tax compliance sensitive issues, IRS examinations, State and Federal worker classification issues, etc. 

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Steven Toscher
Managing Principal
Hochman Salkin Toscher Perez, PC

Mr. Toscher has been representing clients for more than 35 years before the Internal Revenue Service, the Tax Divisions of the U.S. Department of Justice and the Office of the United States Attorney, numerous state taxing authorities and in federal and state court litigation and appeals. Mr. Toscher enjoys a unique combination of solid criminal defense experience and extensive substantive tax experience to assist individuals and entities subject to sensitive government inquiries. He has considerable experience as lead counsel in defending criminal tax fraud investigations (both administrative and grand jury investigations) as well as in defending criminal tax prosecutions (both jury and non-jury). Mr. Toscher’s tax practice includes a wide array of substantive areas including income taxes, estate taxes, employment taxes, sales taxes and property taxes. He is routinely involved in sensitive issue or complex civil tax examinations and administrative appeals on behalf of wealthy individuals and their closely held entities as well as large corporations involving both domestic and foreign tax related issues.

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William J. Curtis
Senior Partner
Polsinelli

Mr. Curtis represents professionals, professional firms, and investors who are involved with or invested in Syndicated Conservation Easements. He helps his clients navigate the criminal, civil, and administrative risks stemming from the DOJ's and IRS's pursuit of syndicators and funds by developing and implementing innovative, cross-disciplinary strategies. 

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Description

On Oct. 8, 2024, the IRS issued final regulations for conservation easement structures and related transactions. The final regulations solidify the IRS' continued focus on enforcement actions for syndicated conservation easements. Taxpayers, tax counsel, and advisers must identify and recognize key tax issues stemming from the final regulations in structuring these transactions and defending against IRS examination.

A conservation easement is a legally enforceable perpetual land preservation agreement between a landowner and either a government agency or a qualified land protection organization (such as a land trust) for the conservation of the land and its resources. Grantors within these transactions can take advantage of significant tax benefits so long as the easement meets IRS approval where there is a donation.

Typically, charitable deductions are not allowed for these transactions, but IRC Sections 170(h)(1) through (h)(5) and Treas. Reg. 1.170A-14 provide for an exception. A charitable contribution deduction is allowed for the fair market value of the conservation easement donated to certain charitable organizations, subject to a limitation on the amounts. Such limitations on the deduction lead to the setup of syndications to purchase land for the conservation easements. This results in high deductions for taxpayers and heightened scrutiny by the IRS.

The final regulations provide that syndicated conservation easements are listed transactions for disclosure purposes, clarify the definition of "conservation easements" and "participants," and categorize syndicated conservation easements and substantially similar transactions into separate classes of abusive transactions, along with other significant provisions.

Listen as our panel discusses key elements of the IRS final regulations, structuring conservation easement transactions, and minimizing IRS assessments and audits, as well as offers techniques for defending conservation easement transactions.

Outline

  1. Overview of conservation easements
    1. Benefits and limitations
    2. Applicable tax regulations
  2. IRS final regulations
  3. IRS enforcement actions
  4. Defending and litigating conservation easement tax matters

Benefits

The panel will review these and other crucial issues:

  • What are the key tax considerations for structuring conservation easements?
  • What are the income and estate tax regulations applicable to conservation easement transactions?
  • What factors are considered by the IRS in reviewing conservation easement transactions?
  • How can taxpayers and their counsel effectively defend and litigate conservation easement tax issues?
  • What risks do “Material Advisors” (CPAs, wealth managers, broker-dealers, attorneys, and other vendors) face?
  • What factors should Material Advisors evaluate in order to assess their own risk?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Understand the impact of IRS final regulations on conservation easement transactions
  • Recognize the key tax benefits of conservation easements for donors
  • Identify critical tax issues for conservation easement transactions
  • Ascertain the key IRS requirements for conservation easement transactions in light of final regulations
  • Acquire effective methods in reporting and defending conservation easement transactions

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).