Federal & State Tax Agencies Responding To COVID-19 With Tax Relief IRS Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus and as information becomes available,...
It just got more expensive to settle your tax debt with the IRS. The Application Fee for Offers In Compromise submitted on or after April 27, 2020 increases from $186.00 to $205.00. An Offer in Compromise (OIC) is an agreement between a taxpayer and the IRS to settle...
The IRS announced on March 6, 2020 that victims of tornadoes and severe storms in parts of Tennessee, including Nashville that took place during the first week of March 2020 may qualify for tax relief. Individuals and households who reside or have a business in the...
Weedmaps Under Pressure To Disclose Cannabis Businesses To The Feds U.S. Attorney's Office for the Eastern District of California seeks documents on roughly 30 companies from cannabis-retail listing service Weedmaps, according to grand-jury subpoena. According to a...
California Now Allowing Free Cannabis To Qualified Medicinal Patients. The Bureau Of Cannabis Control has confirmed that beginning March 1, 2020, cannabis retailers may provide free cannabis or cannabis products to qualified medicinal patients or their primary...
How To Handle Late Tax Returns? Every year, about 7 million taxpayers miss tax deadline or fail to file their tax returns according to data from the Internal Revenue Service. This figure constitutes roughly 5% of the taxpayer base in the U.S., resulting in government...
The Tax Cuts And Jobs Act Of 2017 (“TCJA”) was signed into law by President Trump on December 22, 2017. It has been a good 30 years since the last time the Internal Revenue Code received such a major update but for taxpayers. Deductions Relating to Meal And...
President Trump Seeking To Prosecute Legalized Adult-use Marijuana Businesses On June 20, 2019, the House of Representatives voted to restrict the Department Of Justice (“DOJ”) from interfering with States that have legalized adult-use marijuana, including those...
Why Is Taxation Related To Cannabis Businesses So Complicated? Beware 2020 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the...
The IRS announced on January 17, 2020 that victims of earthquakes that took place beginning on December 28, 2019 in parts of the Commonwealth of Puerto Rico may qualify for tax relief. Individuals and households who reside or have a business in the municipalities of...
