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IRS Proactive Approach to APA Challenges

Following defeat in Tax Court cases of Administrative Procedure Act, IRS issues proposed regulations identifying syndicated conservation easement transactions as listed transactions. This shows the IRS is taking a proactive approach in addressing the APA challenges.

United statesUs tax court on novTreasury departmentTax courtMann construction incBobbya branchGreen valley investorsAdministrative procedure actMann constructionSixth circuitCircuit rulesListing transactionsRaising questionsTax matters partnerCourt invalidates conservation easement noticeAbates reportable transaction penalty

IRS To Issue Proposed Regulations Identifying Syndicated Conservation Easements As Listed Transactions - Tax Authorities

On December 6, 2022, less than a month after its historic loss in the Tax Court in Green Valley Investors LLC v. Commissioner, 159 T.C. 5 (2022), the IRS released Announcement 2022-28.

Green valleyUnited statesCaplin drysdaleTax courtGreen valley investorsCircuit in mann construction incSyndicated conservationEasement transactionsListed transactionsFederal registerAdministrative procedureMann constructionNorthern districtIrs to issue proposed regulations identifying syndicated conservation easements as listed transactionsTax authorities

Following Tax Court Defeat, IRS is Still After Syndicated Conservation Easements

Following Tax Court Defeat, IRS is Still After Syndicated Conservation Easements
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United statesRevenue serviceSupreme courtTax courtMann construction incInternal revenue codeGreen valleyAdministrative procedure actSixth circuit caseMann construction

IRS proposes to categorize syndicated conservation easements as listed transactions

The service is reacting to recent court decisions challenging its ability to classify the investments as abusive schemes.

United statesGreen valleyAndrew harrer bloombergRevenue serviceTreasury departmentTax courtUs tax courtCircuit courtInternal revenue serviceGreen valley investorsAdministrative procedureMann constructionSixth circuit courtTax avoidanceTax regulationsTax related court cases

Taxpayers Achieve Administrative Procedure Act Victories - Tax Authorities

The taxpayers contended the guidance required pre-promulgation notice and comment.

United statesRevenue serviceSeealtera corpTax courtDepartment of treasuryDistrict courtLiberty global incUs supreme courtSeeliberty global incInternal revenue serviceAdministrative procedure actLiberty globalInternal revenue codeJobs actSixth circuitMann construction