New IRS Reporting Requirements on Gifts from Pass-Thru Entities – How Land Trusts Can Comply

Wed., Mar. 19, at 9:00 am - 10:00 am

This event is free, but registration is required. Follow this link to register. 

Karin Marchetti, General Counsel of Maine Coast Heritage Trust (MCHT), will demonstrate how MCHT conducted a look-back to Oct 8, 2018 to determine whether a charitable gift of land or easement is a “listed transaction” and whether the land trust is a “material advisor” that must report the transaction to IRS for greater scrutiny.  This affects only charitable donations of land and easements from “pass-through entities” like LLCs and partnerships.  We will look at sample donor questionnaires, and analyze IRS Forms 8283 filed by donors, to identify the important factors that can trigger reporting requirements for land trusts as “material advisors” to “listed transactions.”