JONES COUNTY, Ga. — An appeals court ruled on Wednesday that a company owned by two ex-Braves players cannot throw out an IRS judgment finding they exaggerated the value of a property to improperly claim a $47 million charitable dedication.

That's according to a panel of three judges in the 11th Circuit Court of Appeals. It comes after the company asked to throw out a 40% penalty issued by the IRS, which likely amounted to millions in fines for underpayment.

Ryan Klesko and John Smoltz, who both played for the Atlanta Braves, founded Buckelew Farms LLC and acquired eight pieces of land for just over $4 million in Jones County.

But, in 2013, Klesko and Smoltz filed a deed which granted "a conservation easement," which restricts the usage of the property for conservation. While that res

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