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IRS Expects to Settle ‘Significant Number’ of Green Tax Cases

May 11, 2021, 10:00 AM

The U.S. Internal Revenue Service expects to settle a “significant number” of court cases over challenges to tax deductions associated with conservation land deals, according to a senior official.

“It looks like we’ll be resolving a significant number of cases on the offered terms,” which includes payment of taxes, interest and penalties, Thomas Cullinan, counselor to IRS Commissioner Charles Rettig, said in a phone interview last week. “But we didn’t make the offer to everyone and some taxpayers rejected it.”

Hundreds of IRS employees are cracking down on the deals, known as syndicated conservation easements, with 28,000 taxpayers under ...

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