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Daily Debits Eating Your Revenue? A Bankruptcy Court Just Showed How Merchant Cash Advance Debt Can Be Attacked
New Mexico businesses drowning in merchant cash advances: a Texas bankruptcy court avoided MCA obligations as constructively fraudulent under § 548. What that means here.
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The IRS Mileage Rate Just Jumped to 76 Cents. If You Reimburse New Mexico Employees Less Than That, Read This First
New Mexico employers: the IRS standard mileage rate rose to 76 cents on July 1, 2026. What the mid-year change means for reimbursements, wage-hour risk, and…
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Your Reefer Trailers May Be Overpaying the IRS on Every Gallon: The Fuel Tax Refund New Mexico Fleets Keep Missing
New Mexico fleets, ag haulers, and oilfield operators may be overpaying federal fuel excise tax on reefer diesel. A practical refund guide after Prime Inc.’s IRS…
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Ghost Preparers, AI Audits, and Fraud Victim Relief: Seven Tax Bills Just Moved, and Five Could Matter in New Mexico
The House Ways and Means Committee advanced seven tax administration bills in July. What ghost preparer penalties, AI audits, and fraud victim relief mean for NM.
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You Bought the Note. You Also Bought Its Deadlines: What a Fresh Fifth Circuit Loss Teaches New Mexico Claim Buyers
A note buyer lost priority in a fresh Fifth Circuit ruling because deadlines and concessions in the bankruptcy case bound him. Due diligence lessons for NM.
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The Business Is Drowning. Which Bankruptcy Chapter Actually Fits? A New Mexico Owner’s Field Guide
Chapter 7, 13, 11, or Subchapter V? A practical guide for New Mexico business owners on matching the bankruptcy chapter to the problem, with current debt…
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Funding a Child’s Trump Account? The IRS Just Drew the Gift Tax Line, and It Is Narrower Than You Think
Rev. Proc. 2026-25 lets routine Trump Account contributions qualify for the gift tax annual exclusion, but one other gift can break the safe harbor entirely.
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New Mexico Quietly Became One of the Best States to Go Broke In: The 2023 Exemption Overhaul, Explained
New Mexico’s 2023 exemption overhaul raised the homestead to $150,000 and household goods to $75,000. What it means for bankruptcy filers and judgment debtors.
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Suing the Spouse Doesn’t Dodge the Stay: A New Ruling Every New Mexico Creditor Should Read Before the Next Move
A 2026 appellate ruling held that chasing a debtor’s spouse on a fraudulent transfer claim violated the automatic stay and cost the creditor attorneys’ fees.
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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.