The Biden Administration Continues Its Stance Against Cannabis In A Section 280E Legal Battle On May 21, 2021, acting Solicitor General Elizabeth Prelogar filed an Opposition Brief on behalf of the United States in its opposition to a Petition For A Writ Of Certiorari...
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Facing A Surprise Tax Bill – Here Is Why You Should Still File Your 2020 Income Tax Return By May 17th.
Why You Should Not Disregard The May 17, 2021 Filing Deadline The most important thing everyone with a tax liability should do is file a return by the May 17th due date, even if they can’t pay in full, or request a six-month extension to avoid higher penalties for...
IRS Provides Tax Relief For Victims Of Tennessee Storms
The IRS announced on May 14, 2021 that victims of this spring's storms and tornadoes in Tennessee will have until August 2, 2021, to file various individual and business tax returns and make tax payments. IRS Tax Relief Details The IRS is offering this relief to any...
Governor Newsom’s California Comeback Plan Proposes Millions in Funding for Cannabis
Governor Newsom’s California Comeback Plan Proposes Millions in Funding for Cannabis On May 14, 2021 the California Bureau of Cannabis Control issued a press release announcing Governor Newsom’s “California Comeback Plan” which proposes $100 million in grant funding...
National Park Service Seizes Illegal Cannabis In Death Valley
National Park Service Seizes Illegal Cannabis In Death Valley Anyone conducting business in cannabis surely knows that under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief...
Cannabis Consumption Trends: Older Patients More Likely to Consume Cannabis Tinctures, High-CBD Products
Cannabis Consumption Trends: Older Patients More Likely to Consume Cannabis Tinctures, High-CBD Products According to an analysis of sales data published in the journal Cannabis and Cannabinoid Research, older patients are more likely to purchase sublingual...
Why Taxpayers Involved In Offshore Accounts, Cryptocurrency Or Cannabis Should Be Filing An Extension For Their 2020 Income Tax Returns.
Why Taxpayers Involved In Offshore Accounts, Cryptocurrency Or Cannabis Should Be Filing An Extension For Their 2020 Income Tax Returns. If you did not report your offshore accounts, cryptocurrency income or cannabis income earned before 2020, you should hold off on...
IRS Commissioner Tells Congress That He Prefers Cannabis Businesses Be Able To Pay Taxes Electronically
IRS Commissioner Tells Congress That He Prefers Cannabis Businesses Be Able To Pay Taxes Electronically In a hearing before the House Appropriations Financial Services and General Government Subcommittee on February 23, 2021, IRS Commissioner Charles Rettig told...
If You Can’t Beat Them Join Them – New York State Legalizes Recreational Marijuana
If You Can’t Beat Them Join Them - New York State Legalizes Recreational Marijuana Democratic Governor Andrew M. Como signed the Marijuana Regulation And Taxation Act (S.854-A/A.1248-A) into law on March 31, 2021 - $2.5 billion market expected. Governor Como’s office...
More COVID-19 Tax Relief: IRS extends additional tax deadlines for individuals to May 17 and affirms deductibility of PPE
The IRS announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15th, such as making IRA contributions and filing certain claims for refund. Additionally, the IRS announced that the purchase of personal...