Can Cannabis Help College Students Be More Motivated? According to a report published by the American Psychological Association in the journal Experimental and Clinical Psychopharmacology, new analysis out of the University Of Memphis contradicts the perception among...
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Tips On Holding Cryptocurrency In An IRA To Defer Taxation
Cryptocurrency was not well known and confusing for the general public to get comfortable with but with innovations in the industry starting in 2017, cryptocurrency is becoming more widely known and accepted as a means to do business. One of those innovations...
How Israel’s Kibbutzim Is Capitalizing On Global Medical Cannabis Production
How Israel’s Kibbutzim Is Capitalizing On Global Medical Cannabis Production Israel’s communal farms known as “kibbutzim” have been on the brink of extinction as Israel’s economy becomes more capitalist but some kibbutzim are thriving thanks to the addition of a new...
IRS Making It Easier For Taxpayers To Come Into The Voluntary Disclosure Program
A tax crime is complete on the day the false return was filed. It is a federal crime for anyone to knowingly and willfully file an income tax return that he or she knows to be false in some material way. 26 U.S.C. § 7207 provides: Any person who willfully delivers or...
Funding Limits On Federal Prosecutions Of State-Legal Medical Cannabis
Funding Limits On Federal Prosecutions Of State-Legal Medical Cannabis On February 4, 2022, the Congressional Research Service (“CRS”) issued a report on how different federal courts across the country are interpreting a spending bill rider that has generally shielded...
IRS To Consolidate Processing Centers Despite Huge Backlog Of Unanswered Taxpayer Inquiries
On February 7, 2022 the Treasury Inspector General For Tax Administration (“TIGTA”) issued a report evaluating the IRS’s efforts to close the Fresno California Tax Processing Center and its continued planned closure of the Austin Texas Tax Processing Center. The IRS...
IRS Continues To Expand Tax Relief From COVID
On February 9, 2022 the IRS announced additional relief for taxpayers suspending the mailing of certain enforcement letters. IRS Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the...
Justice Department Shuts Down Three Tax Return Preparation Businesses
Recently in three separate cases, the U.S. Justice Department (“DOJ”) successfully secured injunctions from U.S Federal District Courts barring certain tax return preparation businesses from preparing tax returns and in some cases ordering the tax return preparers to...
Mississippi Becomes The 37th State To Legalize Medical Cannabis
Mississippi Becomes The 37th State To Legalize Medical Cannabis In 2020, voters in Mississippi approved Initiative 65, a ballot measure to legalize medical cannabis; however, last year the state’s Supreme Court overturned it and invalidated the ballot initiative. ...
What Taxpayers Who Pay Business Expenses With A Credit Card Can Learn From A Recent Investigation Made By The Treasury Inspector General for Tax Administration
On January 28, 2022, the Treasury Inspector General for Tax Administration (TIGTA) released its audit report citing violations of IRS officials improperly charging expenses on credit cards. Why TIGTA Did This Audit This audit was initiated because the Government...