The IRS announced on April 3, 2023 that March 31 Storm victims in parts of Arkansas now have until July 31, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on January 10,...
If You Can’t Beat Them, Join Them – Kentucky Legalizes Medical Cannabis! On March 31, 2023, Kentucky Governor Andy Beshear (D) signed into law a bill (SB 47) legalizing medical marijuana. The new law allows patients with recommendations from doctors or advanced nurse...
If you did not report your offshore accounts, cryptocurrency income or cannabis income earned before 2022, you should hold off on filing your 2022 taxes and instead file an extension. An extension is your way of asking the IRS for additional time to file your tax...
The IRS announced on March 28, 2023 that March 24 and 25 Storm victims in parts of Mississippi now have until July 31, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on...
The IRS announced on March 24, 2023 that the December 23 to December 28, 2022 Storm victims in parts of New York now have until May 15, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The...
How Did Cannabis Fare In The Oklahoma March 2023 Special Election? On March 7, 2023, Oklahoma held a single-issue special election to legalize adult-use cannabis. State Question 820 was left off the ballot last fall, after the Oklahoma Supreme Court flagged the...
How California Taxes Unlicensed Cannabis Cultivation Just because California suspended the cultivation tax on cannabis, don’t think that as an unlicensed grower you have nothing to worry about. Legal California cannabis businesses have been complaining about taxes,...
In recent years the IRS has made the Report of Foreign Bank and Financial Accounts (FBAR) penalty enforcement a top priority and this is alarming the taxpayers worldwide. Even in the course of every routine domestic IRS audit, IRS agents are looking for undisclosed...
New announcement extends tax deadlines to October 16, 2023. The IRS announced on January 10, 2023 that California storm victims have until May 15, 2023 to file various federal individual and business tax returns and make tax payments. Subsequently on January 13, 2023...
Under prior law, a taxpayer generally can deduct business-related meal and entertainment expenses paid or incurred in entertaining a client, customer, or employee. The taxpayer had to show that the item was directly related to (or, in certain cases, associated with)...
