Insights
Vestal Analytics publishes selected observations concerning IRS conservation-easement valuation processes, report characteristics, technical-review practices, comparative patterns, and data organization. Public content is educational and does not disclose client-confidential information.
Insights
Every article distinguishes verified facts, document-based observations, interpretation, open questions, and matters requiring a licensed professional opinion.
A review of more than 200 IRS conservation easement valuations, representing more than $5 billion in taxpayer-claimed values, found recurring errors that favor the same side. With potentially billions at stake, taxpayers deserve IRS valuations that are accurate and independently supported.
Read the insightAn IRS Report of Value typically names the standards, scope, sources, and certifications behind its conclusion. Reading those statements as testable claims—rather than boilerplate—is the first step in a property-specific review.
Read the insightThe difference between a desk review and a field-based analysis is not academic. It shapes which facts about a property could have been observed, and which conclusions rest on assumption instead of observation.
Read the insightA crosswalk maps every property-related allegation to its stated basis, the documents that respond to it, and the factual questions that remain open. It is one of the most practical tools counsel can build early in a conservation-easement matter.
Read the insightA property-level review moves faster and reaches firmer ground when the core documents are gathered first. This checklist covers the valuation, transaction, professional, and procedural records that a disciplined review depends on.
Read the insightFeatured in national reporting
Vestal Analytics research and data helped inform Stephen Moore’s commentary for Fox News Digital and Ashe Short’s reporting for Just the News. The articles below provide context on IRS conservation-easement enforcement. Their inclusion does not imply endorsement of Vestal Analytics or its findings.
Just the News · Ashe Short
Just the News reports on an independent review of more than 130 IRS conservation-easement valuations that found reductions of roughly 97% from taxpayers’ expert appraisals, with 62.4% of the reviewed valuations performed as desk reviews and few identifying a technical specialist with a recognized professional qualification.
Why it matters to Vestal Analytics. Bernie Donachie, founder of Vestal Analytics, provided data and analytics that helped inform the report, building on the comparative research previously covered by Just the News in August. This work reflects Vestal Analytics’ core practice: examining valuation methods, professional qualifications, supporting evidence, and patterns across IRS reports.
Read at Just the NewsBloomberg Tax · Crowell & Moring (opinion)
Three Crowell & Moring lawyers call the IRS’s new Office of Conservation Easements a promising response to the backlog of easement cases, welcome the end of the uniform settlement initiative, and urge settlements tailored to each partnership’s circumstances and enforcement that distinguishes legitimate conservation activity from abusive transactions.
Why it matters to Vestal Analytics. The article’s emphasis on individualized, fact-based decisions aligns with Vestal’s comparative review across its database of IRS conservation-easement valuations. A documented, property-specific record can inform settlement discussions, litigation strategy, and responses to allegations against promoters. The article does not validate Vestal’s findings or conclude that IRS valuations are flawed; those points require proof from the underlying reports. It also does not say completed settlements have been reopened.
Read at Bloomberg TaxFox News Digital (opinion) · Stephen Moore
Stephen Moore discusses the IRS decision to rethink its conservation-easement approach, the creation of the new Office of Conservation Easements, and concerns about desk-based valuation work and inconsistent treatment of taxpayers.
Why it matters to Vestal Analytics. Useful background for the broader public debate over IRS enforcement, valuation practices, and the agency’s changing approach in 2026. Vestal Analytics research has been used in national reporting by Stephen Moore for Fox News Digital.
Read at Fox News DigitalJust the News · Ashe Short
The article follows Colorado farmer Marc Arnusch and his conservation easement audit, then broadens to IRS valuation practices—desk-based geological reviews, reviewer expertise, and large valuation reductions—and the creation of the IRS Office of Conservation Easements in August 2026.
Why it matters to Vestal Analytics. The article directly references Bernie Donachie’s comparative analysis of 10 publicly available cases, reporting taxpayer valuations totaling $358.2 million compared with IRS values totaling $1.57 million. That cross-report pattern review is the type of work that now forms part of Vestal Analytics’ practice.
Read at Just the NewsCurrent Federal Tax Developments · Ed Zollars
Ed Zollars explains the IRS’s August 19 decision to end its rolling, uniform conservation easement settlement initiative and create a dedicated Office of Conservation Easements—withdrawing deadlines on prior offers while keeping submitted elections in effect, with pending cases still able to request the prior terms subject to eligibility and case review.
Why it matters to Vestal Analytics. The IRS has replaced its uniform settlement initiative with a process that can account for the circumstances of individual cases. Vestal Analytics supports that case-specific work by examining IRS valuation reports and comparing the methods and data used across more than 225 conservation easement valuations. The new office does not imply that the IRS has conceded flaws in any particular report. The article describes IRS policy and does not assess or endorse Vestal Analytics.
Read at Current Federal Tax DevelopmentsFox News Digital (opinion) · Stephen Moore
Stephen Moore criticizes the IRS enforcement campaign involving syndicated conservation easements, including the use of broad enforcement approaches, desk audits, and retroactive treatment of transactions.
Why it matters to Vestal Analytics. Background on the public debate over enforcement methods—particularly desk audits—that a property-specific process review examines document by document rather than by generalization.
Read at Fox News DigitalCNBC · Hayley Cuccinello
Conservation easements can preserve land and historic property, while disputed valuations have drawn extensive IRS scrutiny. CNBC explains how the incentives work, why enforcement intensified after syndicated transactions produced allegedly inflated deductions, and the continuing role of legitimate easements.
Why it matters to Vestal Analytics. A sound review needs to examine the specific property, valuation data, and methods rather than assume every easement has the same facts. Vestal Analytics reviews the underlying documentation in each case and compares IRS valuation methods and findings across more than 225 conservation easement valuations. The article provides general background; it does not assess or endorse Vestal Analytics or its findings.
Read at CNBCRequest a confidential introductory conversation about an IRS valuation dispute, investor claim, or property-specific fact review.
