How To Handle Late Tax Returns? Every year, about 7 million taxpayers miss tax deadline or fail to file their tax returns according to data from the Internal Revenue Service. This figure constitutes roughly 5% of the taxpayer base in the U.S., resulting in government...
The Tax Cuts And Jobs Act Of 2017 (“TCJA”) was signed into law by President Trump on December 22, 2017. It has been a good 30 years since the last time the Internal Revenue Code received such a major update but for taxpayers. Deductions Relating to Meal And...
President Trump Seeking To Prosecute Legalized Adult-use Marijuana Businesses On June 20, 2019, the House of Representatives voted to restrict the Department Of Justice (“DOJ”) from interfering with States that have legalized adult-use marijuana, including those...
Roger Thomas Clark Pleads Guilty In Manhattan Federal Court On January 30, 2020, the United States Attorney for the Southern District of New York (SDNY) issued a press release that Roger Thomas Clark, who was also known as “Plural of Mongoose” or “Variety Jones,” pled...
The IRS announced on January 17, 2020 that victims of earthquakes that took place beginning on December 28, 2019 in parts of the Commonwealth of Puerto Rico may qualify for tax relief. Individuals and households who reside or have a business in the municipalities of...
Attention California Cannabis Businesses: New Cannabis QR Code Regulations Are In Effect Following the recent announcement of the Bureau Of Cannabis Control (BCC) of its QR Code campaign, on January 23, 2020 the BCC announced new proposed emergency regulations...
Tips For Cannabis Businesses To Prepare for Tax Season And IRC Sec. 280E On January 6, 2020, the Internal Revenue Service (IRS) announced that it will process 2019 tax returns beginning January 27, 2020. April 15th Filing Deadline. The filing deadline to submit 2019...
Why Hire A Tax Attorney If You Are In U.S. Tax Court For IRC Sec. 280E? IRS Tax Audits in the cannabis industry can be quite tricky. We previously wrote a blog on appealing these audits. If you are involved in cannabis and dealing with an IRC Sec. 280E or other tax...
Can Cannabis Help People Who Suffer From Migraines? For those of us who regularly experience migraines, life carries unique challenges. Migraines are a recurring type of headache. They cause moderate to severe pain that is throbbing or pulsing. The pain is often on...
Could California Finally Get Cannabis Tax Reform? In a previous blog we reported that the California Department of Tax and Fee Administration (CDTFA) which oversees the reporting and collection of taxes for the California cannabis industry after conducting an analysis...
