Congress threatens land trusts

Congress threatens land trusts: "Congress threatens land trusts
By Jim Kravets
A congressional report issued last week recommending the elimination of a slew of tax-breaks has directors of land trusts in West Marin and elsewhere fuming.
The 435-page report by the staff of the nonpartisan Joint Committee on Taxation makes 73 recommendations for ways the government could collect about $400 billion more during the next decade.
The study, produced at the request of the Senate Finance Committee, is part of an effort to reduce the wide array of tax loopholes, abusive tax shelters and administrative lapses that each year cost the government tens of billions of dollars.