12+ years later, people in Colorado are still battling the IRS over conservation easement valuations. And to highlight how bad it’s gotten, in this case even when you think you win something…you still lose. The IRS miscalculated the penalty, only charging 20% when it should have been 40%. Later the IRS came back and said you owes us another 20%, and the taxpayor choose to fight about it in court.
The story is on the bottom of page 3 of this John Hancock newsletter. There’s other good stuff in here.
