If taxes are not paid timely, and the IRS or any State or Local Tax Agency is not notified why the taxes cannot be paid, the law requires that enforcement action be taken, which could include the following:
• Issuing a Notice of Levy on salary and other income, bank accounts or property (legally seize property to satisfy the tax debt).
• Assessing a Trust Fund Recovery Penalty for certain unpaid employment taxes.
• Assessing liability against responsible individuals of businesses for unpaid sales or gross receipts taxes.
• Issuing a Summons to the taxpayer or third parties to secure information to prepare unfiled tax returns or determine the taxpayer’s ability to pay.
Please click on any of the links below for more information:
Criminal Tax Defense
Tax Audits & Litigation
Tax Planning & Structure
I.R.C. §280E – Deduction of Business Expense
Having access to a Board Certified Tax Attorney-CPA with specialized knowledge in the cannabis industry and more than 30 years of experience in advising businesses in tax compliance and planning, accounting systems and cash management can help you meet your challenges to minimize your taxes and conduct business in a manner that avoids prosecution by the Federal authorities and meets State & Local laws and regulations to ensure your cannabis business remains operational. Don’t delay call us today!