Tuesday, July 26, 2011
Wendy C. Gerzog
(Baltimore) has posted Mortgages and Conservation Easements: Not a Good Mix
, 132 Tax Notes 437 (July 25, 2011), on SSRN. Here is the abstract
This article reviews Kaufman [v. Commissioner, 136 T.C. No. 13 (2011)], and the Tax Court’s reconsideration of its summary judgment decision that rejected the taxpayers’ deduction for a facade easement charitable deduction. The issues newly considered are the deductibility of the taxpayers’ required cash payments to the charity in connection with obtaining a facade easement charitable deduction and the application of various penalties.