DENVER, Colo. (KUSA) - Hickenlooper's says it centers around property was trying to conserve in Park County.
He was getting a tax break on the land through a conservation easement while he was trying to donate it as a charitable gift.
The IRS offered him a $52,486 settlement to adjust an appraisal of the land.
Hickenlooper's spokesman says he did not fight it because he was more interested in preserving the land.
Hickenlooper is running against Republican Dan Maes and American Constitution Party candidate Tom Tancredo in the race for governor.