National Taxpayer Advocate Delivers 2021 Annual Report to Congress With No Mention Of Unfair Taxation Of Cannabis Businesses Or Uncertainty Of IRC Section 280E. As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government...
How IRS Trains Its Agents To Conduct Audits Of Cannabis Businesses In January 2015, the IRS issued a memo to provide guidance to its agents on conducting audits of cannabis businesses addressing whether an IRS agent can require a taxpayer trafficking in a Schedule 1...
Federal Court Of Appeals Rules That Cannabis Is Just Like Any Other Industry Subject To IRS Audits On October 20, 2020, the U.S. Court of Appeals for the 10th Circuit issued its opinion ruling against a group of Colorado cannabis dispensaries and their affiliates that...
The U.S. Attorney’s Office for the Southern District of Mississippi announced on November 5, 2020 in a press release that Talvesha Glaude who owned and operated a tax return preparation business was sentenced to 22 months in prison for preparing false income tax...
U.S. Appeals Court Rejects California Cannabis Business’ Tax Dispute Due To Mailing Mix-Up Two California-based cannabis companies had their petition thrown out of appeals court after it was delivered to court a day late by an unapproved delivery service. Organic...
If you did not report your offshore accounts, crypto currency income or cannabis income earned before 2019, you should hold off on filing your 2019 taxes and instead file an extension. An extension is your way of asking the IRS for additional time to file your tax...
Treasury Inspector General Targets The Cannabis Industry Recommending Increased Tax Compliance Action On March 30, 2020, the Treasury Inspector General For Tax Administration (TIGTA) released a report to the IRS pointing them toward targeting the state-licensed...
IRS Responding To COVID-19 With “The IRS People First Initiative” For Examination And Collection 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...
How Are Cannabis Businesses Coping With COVID-19? State & local governments are taking unprecedented measures to stop dine-in restaurant service, close gyms and movie theaters, and ban or limit all gatherings to fight the spread of the coronavirus. What remains...
Federal & State Tax Agencies Responding To COVID-19 With Tax Relief – IRS And Treasury Department Issues Initial Guidance IRS Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the...
