According to an article published on January 26, 2021 in the Journal Of Parkinson’s Disease, a survey in Germany found over 8% of patients with Parkinson’s disease are using cannabis products and more than half (54%) experienced beneficial clinical effects. Over 40% of users reported that cannabis helped manage pain and muscle cramps, and more than […]
Recovery Rebate Credit: What you need to know before filing your 2020 income tax returns The Recovery Rebate Credit is authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the COVID-related Tax Relief Act. It is a tax credit against your 2020 income tax. Generally, this credit will increase the amount of your tax […]
On January 15, 2021, the Internal Revenue Service (IRS) announced that it will process 2020 tax returns beginning February 12, 2021. April 15th Filing Deadline. The filing deadline to submit 2020 tax returns is Thursday, April 15, 2021. Since the IRS will begin processing tax returns on February 12th there is no advantage to filing […]
According to a report published on January 23, 2021 by the U.S. National Library Of Medicine National Institutes Of Health, in a study involving over 57,000 adults who consumed cannabis in any form researchers found there is no link to cannabis use and an increase in cardiovascular disease. In addition researchers found no link to cannabis […]
How Is The IRS Jumping On Board The Age Of Improving Customer Experience? Earlier in January 2021, the IRS delivered to Congress the Taxpayer First Act Report as a response to legislation passed in July 2019. The report includes recommendations to improve IRS operations. As part of a larger effort related to the Taxpayer First Act […]
Getting Ready For The 2021 Tax Filing Season On January 15, 2021, the Internal Revenue Service (IRS) announced that it will process 2020 tax returns beginning February 12, 2021. Last year the opening date was January 27, 2020; however, for the 2021 tax filing season this had to be extended to allow the IRS time […]
How COVID-19 And Underfunding Impacts IRS Operations And Increases 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 experienced by taxpayers in dealing with the […]
Beware 2021 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the government to combat public support for marijuana and cast state legalization measures in a negative light while attempting to portray the drug as […]
According to a report published on October 7, 2020 in the Journal of the American Geriatric Society, in a study of 568 adults ages 65 years and older who initiated cannabis consumption for medical purposes experienced positive results in treating pain, sleep disturbance, anxiety, and/or depression. Researchers found approximately 15% of survey responders reported using cannabis within the […]
Federal & California Governments Making It Easier For Taxpayers In The Gig Economy To Be Treated As Independent Contractors. Why Tax Planning Is More Important If You Earn Income From The Gig Economy. From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item […]
Israel Is Dominating Global Medical Cannabis Research Despite An Anti-Federal U.S. Climate Most people would be surprised to hear that Israel is the global leader in medical cannabis research. Not a surprise here considering that Israel is already known as an agricultural heavyweight and first allowed patients with qualifying conditions to use cannabis in the […]
Where Is My IRS Second Economic Impact Payment? Starting December 29, 2020 the IRS begins delivering the second round of Economic Impact Payments On December 27, 2020 President Trump signed the $900 million Stimulus Bill formally known as the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (the “CARES Act II”) to provide assistance […]
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