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Nonprofit Loans to Insiders in New Mexico: Section 4958 Taxes After Jagannath
A Tax Court ruling taxed a charity president $1.3 million over a self-signed note. Here is the section 4958 math, the correction window and NM’s director-loan…
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Void Default Judgments in a New Mexico Bankruptcy Now Have a Clock: Coney Island v. Burton
A garnishment on a judgment you never knew about? After January 2026, a voidness motion under Rule 60(b)(4) must be made promptly. How service fails and…
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IRS as Golden Creditor in New Mexico: Can a Trustee Reach Back Ten Years After Miller?
A trustee wants back a 2018 family gift by borrowing the IRS’s ten-year window. Miller left that question open, and New Mexico’s own Vaughan ruling points…
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Tax Court Trials From New Mexico: Albuquerque, El Paso or Lubbock, and the S Case Box
The Tax Court added five trial cities in September and plans a 2027 pilot. What a Hobbs or Clovis petitioner should check on Form 5 and…
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Asked to Sign IRS Form 872 in New Mexico? Fine, Form 872-T and the State Clock
A signed Form 872 holds to its date. How restricted consents, refusals and Form 872-A work, and why a federal extension still moves New Mexico exposure.
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Frozen Out of a New Mexico LLC in Bankruptcy: Which Claims Are Still Yours?
When managers put a New Mexico LLC into Chapter 11, a frozen-out member’s lawsuit splits in two. A Taos example shows where each claim lands and…
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Gifting QSBS Before an Exit in New Mexico: Section 1202, Trusts, and Community Property
A Los Alamos founder and spouse weigh trusts for their kids before a $28 million sale. Community property, the per-issuer cap, and New Mexico’s capital gains…
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New Mexico Nonprofit Lost Its 501(c)(3)? Automatic Revocation vs. a Section 7428 Fight
Most New Mexico 501(c)(3) revocations come from three missed 990s, not audits. Here is how reinstatement, the 15-month window, and Section 7428 suits differ.
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Conservation Easement Audit in New Mexico: Fraud Penalties and No Jury After Silver Moss
A Mora County ranch easement under IRS exam: why the Tax Court decides fraud without a jury, when a refund suit makes sense, and how the…
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Insights ✶ New Mexico
Tax & Bankruptcy Insights
Plain-English analysis of federal tax defense, tax planning, and bankruptcy developments that matter to New Mexico individuals and business owners. New posts every week from attorney-CPA Phillip Zagotti.