The Internal Revenue Service’s Office of Professional Responsibility has entered into a settlement agreement with a group of appraisers from the same firm who were accused of aiding in the understatement of federal tax liabilities by overvaluing facade  easements for charitable donation purposes.

Under the settlement agreement, the appraisers admitted to violating relevant sections of Circular 230 related to due diligence and submitting accurate documents to the government. The OPR has barred them from valuing building facade easements for federal tax purposes for five years.

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