Promoter Will Exit Green Tax Breaks Derided by IRS as Fraudulent

March 26, 2021, 1:18 PM

A Georgia woman who helped promote dozens of land conservation deals that authorities say were fraudulent tax shelters has agreed to leave the business permanently as part of a settlement of a U.S. lawsuit.

The proposed accord with Nancy Zak is a victory for the U.S., which sued to bar her and five others from organizing investors in syndicates that conserved land after offering tax deductions that the Internal Revenue Service says were grossly overvalued. Zak didn’t admit wrongdoing and isn’t required to pay any money, according to a filing Thursday in federal court in Atlanta. Her lawyer declined to ...

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