Abstract
The US Court of Appeals for the Tenth Circuit, by decision filed on April 29, held that donors of a conservation easement were properly found liable by the IRS for the 40 percent accuracy‐related penalty for a gross valuation misstatement (Roth v. Commissioner). They claimed a charitable contribution deduction in the amount of $970,000; the parties settled on a deduction amount of $30,000. There was agreement that these donors had reasonable cause for the amount of the claimed deduction. This decision affirms a US Tax Court finding (summarized in the March 2018 issue).
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