Charitable Acknowledgements For Tax Purposes Go Badly Wrong
While the risk is primarily for DAF gifts of partnership interests, business interests or minority interests in real estate, it is important for all organizations that sponsor DAFs to use the expanded language in future contemporaneous written acknowledgments. This language is designed to comply with Section 170(f)(8) and Section 170(f)(18) requirements.
Conservation Easement Abuse – Not Just The Syndicators
The BU white paper further validates P4C’s longstanding position that the class of landowner, whether a partnership or an individual, is irrelevant as it relates to the potential for overvaluation of donations of conservation easements.
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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.