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Your New Mexico Lawsuit Removed to Federal Court: Mandatory Abstention and Remand
When a co-defendant files bankruptcy, a New Mexico state court case can be removed to federal court without the plaintiff’s consent. Mandatory abstention, permissive abstention, and…
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A Stranger Offers to Pay Your Bankruptcy for Your Car: Fenner and New Mexico
A towing company paid debtors’ bankruptcy fees in exchange for their cars, then inflated liens and faked auctions. The Seventh Circuit affirmed prison terms in 2025,…
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Bank Deposits Method Audits: Rebutting the Presumption of Correctness in New Mexico
When an auditor rebuilds a contractor’s income from bank deposits, the assessment arrives presumed correct. This post walks through the federal rules that decide who carries…
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Involuntary Bankruptcy in New Mexico After HH Technology: Counting to Twelve
The First Circuit’s HH Technology decision confirms that a creditor paid in the ordinary course still counts toward the twelve-creditor threshold in 11 U.S.C. § 303(b)(2).…
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Selling a New Mexico Home With a Federal Tax Lien: Discharge or Subordination
A recorded notice of federal tax lien does not stop a New Mexico home sale, it stops the closing. Here is how discharge under 26 U.S.C.…
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FBAR Deadline October 15, 2026: What New Mexico Filers With Foreign Accounts Owe
October 15, 2026 is the automatic extended due date for a 2025 FBAR. This post traces the deadline to its statutory source, works through the penalty…
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Section 1031 Exchanges for New Mexico Ranches, Water Rights, and Mineral Interests: Deadlines and Boot
A New Mexico rancher can defer millions in federal and state gain by exchanging into other real estate, but water rights, grazing permits, cattle, and equipment…
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The IRS Is Rewriting Form 990 for Grants and Fiscal Sponsors: What New Mexico Nonprofit Boards Should Check
The IRS says a redesigned Form 990 targeting government grants and fiscal sponsorship will be ready by next tax year. Here is what New Mexico nonprofit…
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When a New Mexico Commercial Tenant Files Bankruptcy: Rent, Stub Rent, the Landlord’s Lien, and the § 502(b)(6) Cap
A tenant’s bankruptcy filing freezes a New Mexico landlord’s remedies overnight. Here is what the Code still lets the landlord collect, why the state landlord’s lien…
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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.