Individuals and businesses in parts of four states where Federal Disaster Relief was announced are facing a deadline of July 31, 2023 to file their 2022 federal income tax returns and make tax payments. You can file an extension to get additional time to October 16,...
A man who did not file tax returns for 8 year in a row pleaded guilty before a Federal District Court Judge to evading his income taxes and now must serve 57 months in jail. As reported by the Department Of Justice in a press release, from 2009 through 2016 Daryl...
Chances are you are involved in one of these areas – Income from the Gig Economy, Dealing with Virtual Currency, or Having Foreign Source Income And Assets. If so, pay particular attention to what the IRS will be looking for on your 2022 income tax return. Gig economy...
Current State Of Tax Enforcement On Cannabis Businesses If you are conducting business in cannabis in the State of California, there are several taxing authorities that have interest in your business, specifically: Internal Revenue Service (IRS), Franchise Tax Board...
If You Can’t Beat Them, Join Them – Minnesota Legalizes Adult-Use Cannabis! On May 30, 2023, Minnesota Governor Tim Walz (D) signed a bill into law legalizing recreational marijuana use in the state, this making Minnesota the 23rd state to legalize cannabis for...
The IRS and Franchise Tax Board (“FTB”) may grant individuals and businesses additional time to file or pay when a major disaster in their area is declared by the federal or state government. California generally follows the IRS extended deadlines to file and pay...
A simple mistake, oversight, or your accountant’s malpractice may trigger an IRS criminal investigation. Specifically, unreported income, mismatch of information on a tax return versus third-party reporting information, a false statement, the use of an impermissible...
The IRS announced on May 2, 2023 that April 12 to 14 Storm victims in parts of Florida now have until August 15, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on April...
If You Can’t Beat Them, Join Them – Delaware Legalizes Adult-Use Cannabis! On April 21, 2023, Delaware Governor John Carney (D) announced that he would allow a pair of bills – HB 1 and HB 2 – to become law absent his signature making Delaware the 22nd state to...
The IRS announced on April 18, 2023 that March 31/April 1 Storm victims in parts of Indiana 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...
