Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Treasury to Offer Guidance on Partnership Easement Donations (1)

Jan. 25, 2023, 6:39 PMUpdated: Jan. 26, 2023, 7:15 PM

A Treasury official said Wednesday the department expects to release guidance on an amendment to the US tax code dealing with partnerships’ charitable contributions of easements under its priority guidance for conservation easements.

Amber MacKenzie, attorney-adviser at Treasury’s Office of Tax Policy, said at a District of Columbia Bar conference that Treasury will provide guidance on a new tax code provision to limit partnerships’ ability to deduct a charitable easement contribution.

  • President Joe Biden signed a $1.7 trillion omnibus spending bill in December that included a provision adding a paragraph to tax code Section 170(h) that limited the ...