In a matter of first impression, Florida’s Fourth District Court of Appeal held on March 25, 2026, that undistributed funds available under a reverse mortgage line of credit on homestead property remain protected by the state’s constitutional homestead exemption and
Rubin On Tax
Rubin On Tax, published by Gutter Chaves Josepher Rubin Forman Fleisher Miller P.A., focuses on federal and Florida tax law, estate planning, probate, and business legal matters. The blog covers tax legislation changes, such as modifications to gambling loss deductions and sales tax repeals on commercial leases, and discusses their practical impacts on individuals and businesses. It also addresses estate planning challenges, including capacity and ethical considerations for cognitively impaired clients, and analyzes relevant case law affecting tax penalties and compliance. The content is aimed at keeping readers informed about tax policy developments, legal strategies, and regulatory interpretations relevant to tax and estate planning practitioners and affected taxpayers.
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IRS Will Automatically Remove Many Penalties for Previously Compliant Taxpayers
For years, one of the more frustrating aspects of IRS penalty administration was that many taxpayers who clearly qualified for relief never received it—not because they were ineligible, but because they didn’t know to ask.
That is finally changing.
On…
Florida Supreme Court Dramatically Expands Tenancy-by-the-Entireties Protection for Bank Accounts
December 2025 delivered an important Florida asset-protection decision. In Loumpos v. Dove Investment Corp., the Florida Supreme Court resolved a long-standing conflict among the district courts of appeal and clarified—once and for all—that Florida spouses may convert an individually owned…
Gamblers Lose Out (Literally) under the Big Beautiful Act
Amid the fanfare surrounding the One Big Beautiful Bill Act, enacted on July 4, 2025, gambling enthusiasts and the gambling industry take a hit. Buried in the Act lies a modification that’s stirring discontent among recreational bettors, professional players, and…
Article Summary: Estate Planning with Cognitively Impaired Clients
The following is a summary, with additional commentary and analysis, of the article Estate Planning and Cognitive Impairment: Capacity, Ethics, and Risk Management, which was authored by Stefan Dunkelgrun and published in the June 2025 edition of Estate Planning…
POOF: FLORIDA’S SALES TAX ON COMMERCIAL LEASES IS NOW HISTORY
In a bold move to boost Florida’s business climate, Governor Ron DeSantis signed House Bill 7031 on June 30, 2025, abolishing the state’s sales tax on commercial property leases, often called the Business Rent Tax (BRT). Effective October 1, 2025,…
The TurboTax Defense: A New Chapter
The TurboTax Defense to federal tax penalties—where taxpayers cite reliance on tax software like TurboTax to avoid penalties—has historically been a tough sell. However, Huang v. United States (N.D. Cal. 5/28/2025) offers a fresh perspective, potentially strengthening this defense
…
Section 7872 Defeats IRS Claim of Gift Involving Family Loan
In a recent U.S. Tax
Court case, Estate of Barbara Galli, Deceased, Stephen R. Galli, Executor,
et al. v. Commissioner of Internal Revenue, the court addressed a tax
dispute involving a $2.3 million purported loan transfer between Barbara Galli…
Key Questions & Answers Regarding Florida’s New Law Restricting Real Estate Ownership by Persons of Foreign Countries of Concern
To What Does the New Act Apply?
Generally, it applies to acquisitions of
defined Florida real property interests by certain described owners. There are
three general categories of prohibited transfer and ownership. To apply the new
provisions, one needs to…
New Decision Is a Welcome Clarification of Florida Waiver of Homestead by Deed Issues [Florida]
Fla. Stats. Section 732.7025 provides that if a spouse transfers their interest in property that is or will be homestead property of their spouse by using specific language in the deed, then the transferring spouse waives all homestead rights in…