Texas Couple’s Loss on Farming Tax Break Doesn’t Need New Look

The US Tax Court doesn’t need to revisit a prior opinion holding that a Texas couple isn’t entitled to a tax break because they didn’t engage in farming for profit, it said Monday.

Judge Joseph Robert Goeke turned away the couple’s argument that the prior ruling was superseded by the US Supreme Court’s 2024 ruling in Loper Bright Enterprises v. Raimondo, because the regulations at issue were based on already existing case law and applying those precedents wouldn’t alter the result.

Gary and Marlee Schwarz petitioned the Tax Court in 2020 to redetermine $1.85 million in deficiencies and about ...