Entries by Tax Attorney

Federal Cannabis Banking Access Coming? Check Out The Latest Word By Congress.

On February 13, 2019 a hearing was conducted by the Subcommittee on Consumer Protection and Financial Institutions which is under the U.S. House Committee On Financial Services headed by Chairwoman Maxime Waters (D–CA). Testimony was provided at this hearing which could lead to the subcommittee putting forth a bill in Congress that eventually could put […]

How Another Government Shutdown In The Middle Of Tax Season Can Stifle IRS Operations And Increase Tax Problems For Taxpayers.

How Another Government Shutdown In The Middle Of Tax Season Can Stifle IRS Operations And Increase Tax Problems For Taxpayers. 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 […]

Are You Effected By The Alaska Earthquake? IRS Is Providing You With Tax Relief And Extending Upcoming Tax Deadlines.

The IRS announced on February 5, 2019 that victims of the earthquake that took place on November 30, 2018 in Alaska may qualify for tax relief. Individuals who reside or have a business in the Municipality of Anchorage, Kenai Peninsula Borough and Matanuska-Susitna Borough have until April 30, 2019, to file certain individual and business […]

Santa Barbara County Police Shuts Down Illegal Cannabis Operation

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 that it has a high potential for abuse, no currently accepted medical use in treatment, and lack of accepted safety for use under medical […]

California Cannabis Tax Relief Coming? Check Out Assembly Bill 286 – the Temporary Cannabis Tax Reduction Bill.

A bill was just re-introduced in the California legislature that would give legal cannabis businesses a tax break to help them thrive and level the playing field with cannabis businesses that continue to operate in the grey and black markets. Assembly Bill 286 Was First Introduced February 16, 2018 The proposed legislation, which is sponsored […]

Another Medical Cannabis Breakthrough! How Cannabis May Help Relieve Autism Symptoms.

Israeli researchers record sharp improvement in measures such as quality of life, ability to dress and shower independently after 6 months of cannabis oil treatmen taccording to an Israeli study published in Nature. The joint study conducted by Ben Gurion University and Soroka Medical Center in Beer Sheva showed that cannabis oil was an effective treatment for […]

Don’t Let The Government Shutdown Give You A False Sense Of Security If You Owe The IRS

Don’t Let The Government Shutdown Give You A False Sense Of Security If You Owe The IRS With the temporary opening of the Federal government for three weeks announced on January 25, 2019, tax issues that were held in limbo may now see some movement. Temporary funding for the IRS for fiscal year 2019 expired […]

Is The U.S. Attorneys’ Office Poised To Help Support The Cannabis Industry?

On January 4, 2018, former U.S. Attorney General Jeff Sessions announced the revocation of what is known in the cannabis industry as the “Cole Memo”. Attorney General Nominee William Barr Appears Committed To Reverse This Stance And Leave State-Legal Marijuana Programs Alone. In Senate testimony on January 15, 2019, nominee for Attorney General William Barr committed to […]

Despite Continued Government Shutdown, Some IRS Employees Are Being Called Back To Work

Despite Continued Government Shutdown, Some IRS Employees Are Being Called Back To Work Temporary funding for the IRS for fiscal year 2019 expired at midnight on December 21, 2018. We previously reported how the government shutdown is impacting IRS operations – click here. That initial contingency plan contemplated that the shutdown would last no more […]