02 Nov Conservation Easement Investigation | Investment Losses and Tax Penalties due to Broker’s Advice
Many investors are facing investment losses and tax penalties due to the bad advice to invest in a Conservation Easement. However, Financial Advisors have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their clients.
If you are currently being sued or under investigation for a tax deduction you took as a result of a financial advisor’s advice to invest in a conservation easement, you should Contact Us Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation.
Conservation Easement Recommendations by Financial Advisers | What happened?
Peiffer Wolf is investigating investment advisers and brokers whose recommendation led individuals to invest in a conservation easement. Entities and professionals that created the abusive conservation easements and those responsible for doing due diligence and ultimately recommending them to you as a viable investment vehicle should be held accountable.
The Internal Revenue Service (IRS) describes conservation easements as abusive tax shelters and is out to collect the back taxes, interest, and penalties owed as a result of these abusive tax shelters. The IRS deemed conservation easements to be “listed transactions” in 2017. With the assistance of promoters and investment advisors, conservation easements generated more than $26.8 billion in charitable contribution deductions, according to IRS estimates.
If you invested in a conservation easement on the recommendation of your financial advisor or broker, Contact Peiffer Wolf Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation.
Conservation Easement Penalties
Peiffer Wolf represents investors who have lost significant amounts of money due to fees, interest, and penalties due to the egregious advice to invest in conservation easements. Peiffer Wolf believes that everyone should pay their taxes but that the professionals who lead their clients down the primrose path to IRS penalties should be held accountable for those losses – not you!
To review the Bipartisan Investigative Report on Syndicated Conservation-Easement Transactions, click here.
Syndicated Conservation Donation Transactions Investment Losses?
Syndicated conservation donation transactions are private placement offerings where investor returns are based on a share of tax savings from a charitable donation. These transactions involve unrelated investors acquiring interest in a passthrough entity that holds or acquires unimproved land. The passthrough entity then either grants a conservation easement forever limiting future development or outright donates the land to a land trust in exchange for charitable donation tax deductions that benefit investors.
FINRA noted that these deductions have values based solely on land appraisals that can be more than 10 times the price paid to acquire the land. Investors may be subject to the risk of an IRS audit, inflated appraisals, and conflicts of interest. As a result, investor tax benefits of these programs often exceed initial investments, potentially causing investment losses.
If you invested in a conservation easement on the recommendation of your financial advisor or broker, Contact Peiffer Wolf Today by calling 585-310-5140 or by filling out an online contact form for a FREE Consultation.
Were You a Victim of Investment Fraud or Broker Misconduct?
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Contact Peiffer Wolf today by filling out a Contact Form on our website or by calling 585-310-5140 to schedule a FREE Case Evaluation.
