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TAX WATCH
U.S. Tax Court Denies Easement Deduction
By Elizabeth Schwinn
IThe IRS has won a round in its efforts to crack down on abuses of a legal tool designed to protect private land from development. The U.S. Tax Court has ruled that a Virginia couple's gift of a development restriction on a 29-acre piece of land does not qualify for a charitable deduction because the restriction did not truly limit development...