Abstract
The US Tax Court, by decision dated November 2, held that a contribution of a conservation easement on undeveloped real estate did not give rise to the claimed charitable deduction ($17.5 million) inasmuch as it failed the in‐perpetuity requirement because of a defective judicial‐extinguishment clause, and that the 20 percent accuracy‐related penalty for a substantial valuation misstatement was properly imposed (Glade Creek Partners, LLC v. Commissioner).
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
