-
Selling to an ESOP (or Selling the ESOP Company): What Rush v. GreatBanc Means for New Mexico Business Owners
New Mexico business owners weighing an ESOP exit: the Seventh Circuit’s Rush v. GreatBanc ruling, the § 1042 tax deferral, and a clean-process succession playbook.
-
The Paperwork You Never Finished Can Cost Your Family Everything: An Eleventh Circuit Lesson in Unfinished Transfers
New Mexico families: a signed plan is not a transfer. An Eleventh Circuit case shows how unfinished note and mortgage assignments destroyed bankruptcy claims.
-
High Earners, Your 401(k) Catch-Up Is Going Roth: The Plan Amendment Deadline New Mexico Employers Cannot Miss
New Mexico 401(k) sponsors must amend plans for SECURE 2.0’s mandatory Roth catch-up by December 31, 2026. Who the $150,000 wage test hits and what to…
-
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.
-
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…
-
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…
-
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.
-
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.
-
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…
North Star Law Firm
☰
HomeTax DefenseIRS Audit DefenseAppeals & CDP HearingsLevy & Garnishment ReleaseFederal Tax LiensOffer in CompromiseInstallment Agreements & CNCPenalty AbatementInnocent Spouse ReliefUnfiled ReturnsTax Court LitigationTax LawEntity Selection & StructuringGross Receipts TaxTrust & Estate Tax PlanningBusiness Sale & M&AReal Estate Tax StrategyRetirement & Self-Directed IRAsExit Tax & InternationalBankruptcyChapter 7 BankruptcyChapter 13 BankruptcyChapter 11 ReorganizationSubchapter V Small BusinessPreference Clawback DefenseAboutPhillip Zagotti, Attorney-CPAAshley Burdette, CPABlogContactClient Portal(505) 309-0693
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.