Earlier in January 2021, the IRS delivered to Congress the Taxpayer First Act Report as a response to legislation passed in July 2019. The report includes recommendations to improve IRS operations. As part of a larger effort related to the Taxpayer First Act Report,...
On January 15, 2021, the Internal Revenue Service (IRS) announced that it will process 2020 tax returns beginning February 12, 2021. Last year the opening date was January 27, 2020; however, for the 2021 tax filing season this had to be extended to allow the IRS time...
As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government department that monitors the Internal Revenue Service) must send a report to Congress describing challenges the IRS is facing, problems experienced by taxpayers in...
Why In 2021 Is Taxation Related To Cannabis Businesses So Complicated? Beware 2021 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...
According to a report published on October 7, 2020 in the Journal of the American Geriatric Society, in a study of 568 adults ages 65 years and older who initiated cannabis consumption for medical purposes experienced positive results in treating pain, sleep...
Why Tax Planning Is More Important If You Earn Income From The Gig Economy. From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item marketplace and it’s probably available through the gig economy which is...
Tel Aviv Stock Exchange Launches Cannabis Index Israel Is Dominating Global Medical Cannabis Research Despite An Anti-Federal U.S. Climate Most people would be surprised to hear that Israel is the global leader in medical cannabis research. Not a surprise here...
Starting December 29, 2020 the IRS begins delivering the second round of Economic Impact Payments On December 27, 2020 President Trump signed the $900 million Stimulus Bill formally known as the Coronavirus Response and Relief Supplemental Appropriations Act of 2021...
Don’t think that you can avoid California tax enforcement action just because we are in a pandemic. California is unique in the structure of its tax system. Most States operate under a single tax agency. The Federal government uses a single tax agency called the IRS....
2020 Taxes For California Cannabis – What You Need To Know We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the government to combat public support for marijuana and cast state legalization measures...
