MMM’s William Stone was recently featured in Forbes and Wall Street Journal articles for his insights on the IRS’s approach to syndicated conservation easement cases.
The Wall Street Journal article “IRS Sweetens Easements Audits, Settlements” outlines the IRS’s recent adjustments to its audit and settlement procedures, potentially leading to more favorable outcomes for taxpayers involved in conservation easement disputes. Stone explains that “some easement partnerships will be tempted to take the offer which expires in 3 days- because the terms are favorable” and that “if you feel really strongly about your valuation and your easement, it’s a bad deal.”
Similarly, the Forbes article titled “IRS Conservation Easement Settlement Offer-Sweet Deal?” discussed these IRS changes, citing Stone as the attorney who released the redacted offer. Stone expressed some hesitation about the offer stating that the offer is “a good step in the right direction, however it cannot be the only step taken,” and explains that the IRS “needs to also look at each case on its merits and come to partnership specific settlements for those who don’t accept this offer as I imagine it will be many.”
Read more in Forbes and the Wall Street Journal. A subscription to both publications may be required.