The COVID relief legislation signed into law, specifically the COVID-19 Economic Relief Bill in December 2020 and the American Rescue Plan in March 2021 include a number of provisions that provide economic stimulus and tax credits that could impact your 2021 tax return. Child Tax Credit For 2020, the credit was worth $2,000 per child […]
IRS Expands Its Wave Of Tax Relief To More Victims Of Hurricane Ida The IRS announced on August 31, 2021 that victims of Hurricane Ida that began on August 26, 2021 now have until January 3, 2022 to file various individual and business tax returns and make tax payments. This relief was announced with a […]
IRS Responds To Greater Number Of Victims Of Hurricane Ida With Tax Relief The IRS announced on August 31, 2021 that victims of Hurricane Ida that began on August 26, 2021 now have until January 3, 2022 to file various individual and business tax returns and make tax payments. This relief was announced with a […]
IRS Provides Expanded Tax Relief For Victims Of Hurricane Ida The IRS announced on August 31, 2021 that victims of Hurricane Ida that began on August 26, 2021 now have until January 3, 2022 to file various individual and business tax returns and make tax payments. This relief was announced with a focus on taxpayers […]
IRS Provides Tax Relief For Victims Of Wildfires In California The IRS announced on August 27, 2021 that victims of wildfires in California Ida that began on July 14, 2021 now have until November 15, 2021 to file various individual and business tax returns and make tax payments. IRS Tax Relief Details The IRS is […]
You should know that when the IRS wants to talk about a particular business sector that it is usually a sign that such business sector is identified as having a high potential for non-compliance and thus more tax revenues. On August 18, 2021 the IRS held a forum organized to discuss tax policies for cannabis […]
It is a false sense of security to think that the COVID-19 pandemic will essentially terminate cannabis enforcement initiatives throughout California. 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 […]
Advantages To Filing A 2020 Tax Return – Getting Money Due To You Most people with gross income of $12,400 or more must file a federal tax return. Some people with a lower income are not required to file. However, these individuals should still consider filing for a refund of federal income tax withheld. They […]
IRS Provides Tax Relief For Victims Of Hurricane Ida The IRS announced on August 31, 2021 that victims of Hurricane Ida that began on August 26, 2021 now have until January 3, 2022 to file various individual and business tax returns and make tax payments. IRS Tax Relief Details The IRS is offering this relief […]
According to a report by the nonpartisan California Legislative Analyst’s Office, California collected about $817 million in adult-use marijuana tax revenue during the 2020-2021 fiscal year, state officials estimated on Monday. That’s 55% more cannabis earnings for state coffers than was generated in the prior fiscal year. Furthermore, the combined excise and cultivation tax revenue for […]
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