State & local governments are taking unprecedented measures to stop dine-in restaurant service, close gyms and movie theaters, and ban or limit all gatherings to fight the spread of the coronavirus. What remains open are those establishments that are considered to be “essential businesses”. What Are “Essential Businesses”? State & local governments designate as “essential […]
Federal & State Tax Agencies Responding To COVID-19 With Tax Relief – IRS And Treasury Department Issues Initial Guidance IRS Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus and as information becomes available, the IRS will be updating this special […]
Federal & State Tax Agencies Responding To COVID-19 With Tax Relief IRS Coronavirus Tax Relief The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus and as information becomes available, the IRS will be updating this special page on its website. President Donald Trump declared […]
Are You Considering The IRS Offer in Compromise Program To Settle Your Tax Debt? It just got more expensive to settle your tax debt with the IRS. The Application Fee for Offers In Compromise submitted on or after April 27, 2020 increases from $186.00 to $205.00. An Offer in Compromise (OIC) is an agreement between […]
Are You Affected By The March 2020 Tennessee Tornadoes? IRS Is Providing You With Tax Relief And Extending Upcoming Tax Deadlines. The IRS announced on March 6, 2020 that victims of tornadoes and severe storms in parts of Tennessee, including Nashville that took place during the first week of March 2020 may qualify for tax […]
Off-Site Manager of Marijuana Grow in Shasta-Trinity National Forest Sentenced to 10 Years in Prison The U.S. Attorney’s Office for the Eastern District Of California issued a press release on February 24, 2020 that Dimas Ortiz, 26, of Michoacán, Mexico, was sentenced by U.S. District Judge Kimberly J. Mueller to 10 years in prison and […]
Eastern District of California seeks documents on roughly 30 companies from cannabis-retail listing service Weedmaps, according to grand-jury subpoena. According to a report from MarketWatch prosecutors in the U.S. attorney’s office for the Eastern District of California ordered the production of records from Ghost Management Group LLC, which owns a subsidiary called Weedmaps that provides […]
Proposed Treasury Regulations Issued On Deducting Business Meals The Tax Cuts And Jobs Act Of 2017 (“TCJA”) was signed into law by President Trump on December 22, 2017. It has been a good 30 years since the last time the Internal Revenue Code received such a major update but for taxpayers. Deductions Relating to Meal […]
Better Late Than Never; What High Income Taxpayers Should Know About Filing Late Tax Returns How To Handle Late Tax Returns? Every year, about 7 million taxpayers miss tax deadline or fail to file their tax returns according to data from the Internal Revenue Service. This figure constitutes roughly 5% of the taxpayer base in […]
On June 20, 2019, the House of Representatives voted to restrict the Department Of Justice (“DOJ”) from interfering with States that have legalized adult-use marijuana, including those allowing recreational use, cultivation and sales. This amendment was attached to a large-scale appropriations bill to fund parts of the federal government for Fiscal Year 2020. But under […]
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