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Sirote's Wooldridge Quoted In Bloomberg Article

November 21, 2013

Sirote & Permutt attorney David Wooldridge was quoted in a Nov. 6, 2013, article posted on the Bloomberg.com business news website. The article, titled “IRS Cracks Down on Breaks Tied to Land of Rich Americans,” analyzes how the IRS has recently been challenging a tax deduction that has long benefited high-income property owners who commit to leaving their historic property or natural habitat intact.
Wooldridge has handled a large number of cases related to what is being known as the “conservation easement tax break.” His successful handling of the Kiva Dunes golf course case in 2009 demonstrated how the golf course preserved habitats for migratory birds and open views and as a result of his efforts, the IRS ultimately agreed to allow the owners of the property a $28.7 tax deduction. 
Wooldridge’s comments in the Bloomberg article demonstrate his belief that the preservation of a unique natural habitat is more important in the long run than the tax benefit. “You’re looking at what’s going to happen 50 years from now,” he says. “It’s a way of really preserving that property out well into the future.  There’s inherent value in that for generations to come.” 
Wooldridge comments regularly about tax issues on the Sirote Conservation Easement Blog and the Sirote Tax Controversy Blog.
Wooldridge represents clients in tax controversy cases involving both the IRS and Alabama Department of Revenue. Most recently, his legal practice has had a particular emphasis on defending conservation easements, such as the landmark Kiva Dunes case in US Tax Court. During his 32 years with Sirote, Wooldridge’s practice has included tax planning, state and local tax issues, family succession and business planning, shareholder oppression, and director and fiduciary liability issues. In 2012 he was elected to the American College of Tax Counsel, a professional association of tax attorneys recognized for excellence in the tax profession. Of the 15 ACTC members in Alabama, four are attorneys who practice at Sirote, the second largest group of attorneys at a law firm in the state. From 1992-99, Wooldridge served as Sirote & Permutt’s Managing Partner.



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