Understand the real property and tax law issues raised by conservation easements.
This course will include a historical recounting of conservation easements and other more general charitable contributions of real property. The basic statutory regime and applicable regulations will also be reviewed. Decided case law, presently pending disputes, and positions taken by the IRS in Rulings, Notices, and Chief Counsel Advices will then be considered. This material will be of interest to CPAs, family wealth advisors, real estate, tax, and general practice attorneys, and landowners.
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Some Historical Events Pertaining to the Development of IRS Section 170(h)
- Original Enactment in 1976
- Renewal/Extension in 1980
- Washington Post Articles in 2003
- Senate Finance Hearings in 2005
- Colorado Audits in 2009
- Amendments to IRC 170
- Release of IRS Notice 2017-10
- Proposed Legislative Revisions
The Basics of Noncash Real Estate Charitable Contributions
- Provisions of IRC Sections 170(a) - 170(g)
- Enhanced Incentives Are Applicable to Conservation Easements
- IRS Form 8283
Specific Incentives for Conservation Easement Deductions
- The Partial Interest Rule
- The 50 Percent Rule
- The 15-Year Carry-Forward
Statutory Requirements
- Qualified Real Property Interest
- Qualified Organization as Donee
- CE Must Serve at Least One Conservation Purpose
Further Requirements Imposed by Regulations
- Perpetuity Requirement
- Baseline Documentation Reports
- Treasury Regulation 1.170A-14(h)(3)
Syndicated CE Transactions and Those That May Be Substantially Similar
A Sampling of Authority Relevant to CEs and Outright Gifts of Real Estate
- Circuit Court Decisions
- Tax Court Decisions
- IRS Positions Under Rulings, Notices, Advices, and Audit Guide
Questions and Answers
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 27, 2022.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.1
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 64 Minutes.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
William R. Sylvester, Esq.
William R. Sylvester Law Firm, LLP
- Shareholder in the Birmingham office of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
- Fellow of the American College of Real Estate Lawyers (ACREL) and is active in local, state, and national bar associations
- Has extensive experience in a wide variety of real estate-related transactions
- Recently handled representation of a declarant in connection with the turn-over of powers to the residents in a neighborhood association with nine separate sub-associations; purchase and sale of unimproved real estate and interests therein; choice of entity considerations in the acquisition of real estate; negotiation and drafting of deal-specific provisions of partnership, limited liability company, and joint venture agreements; and representation of appraisers and donors in charitable conservation gifts of conservation easements of real property
- Member of the American College of Real Estate Lawyers; American Bar Association, Real Property, Trust and Estate Law and Taxation Sections, and Forum on the Construction Industry; and Birmingham Bar Association
- Listed in Mid-South Super Lawyers in Real Estate since 2016; Alabama Super Lawyers in Real Estate since 2008; Best Lawyers In America® since 1995 in the areas of real estate and tax law, and business organizations since 2016; and Chambers USA: America’s Leading Business Lawyers since 2010
- J.D. degree, University of Virginia School of Law; M.S. degree in operations research, Georgia Institute of Technology; B.S. degree, cum laude and Phi Beta Kappa, University of Alabama
Timothy Wagner
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
- Associate in the Baltimore office of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
- Represents individuals and businesses in all aspects of tax controversy matters, as well as tax planning and general business advice; represents clients in federal and state tax audits, tax litigation, and federal and state tax collection matters
- Advises and provides counsel on both foreign and domestic tax compliance, voluntary disclosure matters, excise tax issues, tax fraud, and other white-collar cases, as well as business organizations and corporate structures
- As a certified public accountant with experience in public accounting, he is adept in handling tax controversy matters involving the Internal Revenue Service and Department of Justice, as well as state and local tax matters; recognized as a leader in tax and tax controversy matters, and he regularly speaks on these topics
- Member of the American Bar Association; American Institute of Certified Public Accountants; Maryland Association of Certified Public Accountants; and Maryland State Bar Association, Business Section, Council Member – Tax Section
- Named a Best Lawyers in America® “Ones to Watch” in Tax Law, 2021 – 2022; listed as a Maryland Rising Star in Maryland Super Lawyers, Tax, 2018 – 2022; J. Ronald Shiff Award for Academic Excellence, awarded for having the highest G.P.A. of students graduating from the University of Baltimore Graduate Tax Program during the 2014 – 2015 academic year
- Certified Public Accountant, Licensed in Maryland
- LL.M. degree in taxation, valedictorian, University of Baltimore School of Law; J.D. degree, summa cum laude and Staff Editor – Law Review, University of Baltimore School of Law; B.A. degree, Johns Hopkins University
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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