California’s FTB is offering amnesty for syndicated conservation easements and captive insurance company tax deductions. Both investments are highly-sophisticated, often-fraudulent tax schemes. I’ve been getting lots of calls recently from taxpayers who invested in one of these for their generous tax write-offs, but who are now under FTB audit. If the FTB finds a syndicated conservation easement or captive insurance company investment is not legitimate, then the taxpayer is subject to a 40 percent penalty, plus a doubling of the interest rate. Unfortunately, many of these transactions are not legitimate Read more »
FTB Amnesty for Syndicated Conservation Easements and Captive Insurance Companies
