Based on the various (federal) court filings — the Agees investigation started years ago and was originally initiated by the IRS-CI. However in 2019 the IRS formally added conservation/preservation easements to the annual “dirty dozen” …prior to that both the IRS & DOJ rarely, if ever prosecuted. Hence why the Agees case was the 1st eve…
Based on the various (federal) court filings — the Agees investigation started years ago and was originally initiated by the IRS-CI. However in 2019 the IRS formally added conservation/preservation easements to the annual “dirty dozen” …prior to that both the IRS & DOJ rarely, if ever prosecuted. Hence why the Agees case was the 1st ever criminal prosecution of “bad actors abusing the tax loophole”
See the 2021/2022 Charitable Conservation Easement Program Integrity Act.
Again that case is Federal -however many states had already been investigating this tax abuse loophole. As it relates to why I personally believe Trump’s abuse of conservation/preservation easements -the New York General Assembly proposed various modifications to its State Penal Code
The point is there are valid Conservation/Preservation Easements but there are also numerous land developers who have repeatedly abused these kinds of easements/tax loophole, because it lowers their over all tax burden. Nearly every Trump property (since 1988) I’ve researched has a Conservation/Preservation Easements attached —a rough estimate is Trump & Trump Org have enjoyed over $89M in tax brakes. Because these easements impact both Federal and State taxes, that’s why I’m reasonably convinced that the Manhattan DA & NY AG’s office has been investigating Trump’s Conservation/Preservation easements. I hope that helps clear up your confusion.
That’s a pretty big life change. If you ever need to chat or feel lonely you can always send me an email and I’ll provide you with my cell # because no one should ever feel lonely. I’ll check in on you during and after the holidays
Based on the various (federal) court filings — the Agees investigation started years ago and was originally initiated by the IRS-CI. However in 2019 the IRS formally added conservation/preservation easements to the annual “dirty dozen” …prior to that both the IRS & DOJ rarely, if ever prosecuted. Hence why the Agees case was the 1st ever criminal prosecution of “bad actors abusing the tax loophole”
See the 2021/2022 Charitable Conservation Easement Program Integrity Act.
https://www.congress.gov/117/bills/s2256/BILLS-117s2256is.pdf
Again that case is Federal -however many states had already been investigating this tax abuse loophole. As it relates to why I personally believe Trump’s abuse of conservation/preservation easements -the New York General Assembly proposed various modifications to its State Penal Code
See current NYS Dept of Environmental Conservation https://www.dec.ny.gov/lands/41156.html
See New York’s proposed modifications
https://www.dec.ny.gov/lands/82814.html
See NY Bar Association 2019 white paper
https://nysba.org/NYSBA/Sections/Coursebooks/Real%20Property/2019%20Summer%20Meeting/Panel%207-%20ALL%20MATS%20TOGETHER.pdf
The point is there are valid Conservation/Preservation Easements but there are also numerous land developers who have repeatedly abused these kinds of easements/tax loophole, because it lowers their over all tax burden. Nearly every Trump property (since 1988) I’ve researched has a Conservation/Preservation Easements attached —a rough estimate is Trump & Trump Org have enjoyed over $89M in tax brakes. Because these easements impact both Federal and State taxes, that’s why I’m reasonably convinced that the Manhattan DA & NY AG’s office has been investigating Trump’s Conservation/Preservation easements. I hope that helps clear up your confusion.
WOW, I feel so much smarter: Side note. Mom went back home to my brother's in GA - so it's just me now (:::
That’s a pretty big life change. If you ever need to chat or feel lonely you can always send me an email and I’ll provide you with my cell # because no one should ever feel lonely. I’ll check in on you during and after the holidays