In Scheidelman v. Comr., the Second Circuit overturned two Tax Court rulings regarding noncompliance with qualified appraisal rules and mandatory cash payments to façade easement grantees.
The case “is a significant setback for the IRS, which has been successful in several courts in disallowing a deduction for façade easements on the basis of faulty appraisals,” wrote Minnigh.
Read the full article – “Scheidelman v. Comr.: Second Circuit Vacates Tax Court Decision Disallowing Charitable Deduction for Contribution of Façade Easement,” (July 26, 2012)