On July 9, 2020, the Tax Court issued a Memorandum Opinion in the case of Englewood Place LLC v. Commissioner (T.C. Memo. 2020-105). The primary issue before the court in Englewood Place LLC v. Commissioner was whether the IRS properly disallowed the charitable contribution deduction with respect to the donation of a conservation easement in full because the conservation purpose underlying the easements was not “protected in perpetuity” as required by IRC § 170(h)(5)(A), insofar as the charitable grantee was not absolutely entitled to a proportionate share of the proceeds in the event the property was sold following a judicial extinguishment of the easement. Issues in Englewood Place LLC v. Commissioner The questions of law are identical to those presented in PBBM-Rose Hill, Ltd. v. Commissioner, 900 F.3d 193 (5th Cir. 2018); Oakbrook Land Holdings, LLC v. Commissioner, 154 T.C. No. 10 (May 12, 2020); Coal Prop. Holdings, LLC v. Commissioner,…

On July 9, 2020, the Tax Court issued a Memorandum Opinion in the case of Maple Landing LLC v. Commissioner (T.C. Memo. 2020-104). The primary issue before the court in Maple Landing LLC v. Commissioner was whether the IRS properly disallowed the charitable contribution deduction with respect to the donation of a conservation easement in full because the conservation purpose underlying the easements was not “protected in perpetuity” as required by IRC § 170(h)(5)(A), insofar as the charitable grantee was not absolutely entitled to a proportionate share of the proceeds in the event the property was sold following a judicial extinguishment of the easement. Issues in Maple Landing LLC v. Commissioner The questions of law are identical to those presented in PBBM-Rose Hill, Ltd. v. Commissioner, 900 F.3d 193 (5th Cir. 2018); Oakbrook Land Holdings, LLC v. Commissioner, 154 T.C. No. 10 (May 12, 2020); Coal Prop. Holdings, LLC v.…

On July 9, 2020, the Tax Court issued a Memorandum Opinion in the case of Riverside Place LLC v. Commissioner (T.C. Memo. 2020-103). The primary issue before the court in Riverside Place LLC v. Commissioner was whether the IRS properly disallowed the charitable contribution deduction with respect to the donation of a conservation easement in full because the conservation purpose underlying the easements was not “protected in perpetuity” as required by IRC § 170(h)(5)(A), insofar as the charitable grantee was not absolutely entitled to a proportionate share of the proceeds in the event the property was sold following a judicial extinguishment of the easement. Issues in Riverside Place LLC v. Commissioner The questions of law are identical to those presented in PBBM-Rose Hill, Ltd. v. Commissioner, 900 F.3d 193 (5th Cir. 2018); Oakbrook Land Holdings, LLC v. Commissioner, 154 T.C. No. 10 (May 12, 2020); Coal Prop. Holdings, LLC v. Commissioner,…

On July 9, 2020, the Tax Court issued a Memorandum Opinion in the case of Village at Effingham LLC v. Commissioner (T.C. Memo. 2020-102). The primary issue before the court in Village at Effingham LLC v. Commissioner was whether the IRS properly disallowed the charitable contribution deduction with respect to the donation of a conservation easement in full because the conservation purpose underlying the easements was not “protected in perpetuity” as required by IRC § 170(h)(5)(A), insofar as the charitable grantee was not absolutely entitled to a proportionate share of the proceeds in the event the property was sold following a judicial extinguishment of the easement. Issues in Village at Effingham LLC v. Commissioner The questions of law are identical to those presented in PBBM-Rose Hill, Ltd. v. Commissioner, 900 F.3d 193 (5th Cir. 2018); Oakbrook Land Holdings, LLC v. Commissioner, 154 T.C. No. 10 (May 12, 2020); Coal Prop. Holdings,…