Push Against Tax-Advantaged Land Deals to Continue Next Congress

摘要

The outgoing chairman of the Senate’s tax-writing panel says he isn’t done chasing promoters oftax-advantaged land deals, as a push to crack down on the transactions is stalled in Congress.In Sen. Chuck Grassley’s (R-Iowa) sights are syndicated easement deals that involve promoterssoliciting multiple investors to buy interests in property that is then donated for a tax deduction,leveraging a tax break under Section 170 (h). The IRS has flagged the transactions as potential taxshelters, and reining them in has been a focus of the Senate Finance Committee for several years.