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June 24, 2024

IRS finalizes regulations on deduction disallowance for conservation contributions by partnerships and S corporations

The IRS and Treasury Department today issued final regulations (TD 9999) on the deduction disallowance for certain qualified conservation easements made by partnerships and S corporations as charitable contributions. The final regulations adopt the proposed regulations (see Tax Alert 2023-1976) with some modifications. A Tax Alert is forthcoming.

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Published by NTD’s Tax Technical Knowledge Services group; Chris DeZinno, legal editor