In response to recent unfavorable court rulings, the IRS has issued new proposed regulations that define some syndicated conservation easements as “listed transactions,” or abusive tax shelters. The proposed regs are designed to clarify the need for partnerships to report such transactions to the IRS. The regs also aim to keep judicial rulings from interfering with the agency’s investigations of potential abuse. What they don’t do is revoke or modify Notice 2017-10 or change the current definition of “abusive syndicated conservation easement transaction.” The IRS is seeking comments on the proposed regs and plans to finalize them in 2023. For details: https://bit.ly/3PebPAT Call or visit our website for more information! www.mjscpa.com/
