Conservation Syndicator EcoVest Responds To Injunction Threat
Evaluating conservation deals with high multiples as reasonable tax expenditures, they really come up kind of short. The government could actually buy the land for less than the tax expenditure. Tax incentives should really encourage people to do things, not do it for them and give them a bonus.
What Should Investors In Conservation Syndications Do When DOJ Seeks Injunction?
Terry should ask for the $20,000 back from EcoVest and consider supplementing the fourth-quarter estimate, although that probably won’t make much difference.
I spoke with EcoVest investor relations and they made it clear that they won’t just cut a check. Their point of view is that DOJ has arbitrarily struck demanding that five hard-working people, who are connected to EcoVest one way or another, are being asked to take up different work. Due to the government shutdown, they have not been able to respond.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.