On January 6, 2020, the Internal Revenue Service (IRS) announced that it will process 2019 tax returns beginning January 27, 2020. April 15th Filing Deadline. The filing deadline to submit 2019 tax returns is Wednesday, April 15, 2020. Since the IRS will begin processing tax returns on January 27th there is no advantage to filing […]
Following the recent announcement of the Bureau Of Cannabis Control (BCC) of its QR Code campaign, on January 23, 2020 the BCC announced new proposed emergency regulations mandating cannabis retailers, distributors, and microbusinesses prominently display the licensee’s QR code to help consumers identify licensed cannabis retail stores, assist law enforcement and support the legal cannabis […]
Global Tax Chiefs Meet To Tackle International Tax Evasion The Joint Chiefs of Global Tax Enforcement, known as the J5, which was formed in mid-2018 to lead the fight against international tax crime and money laundering met this week. This group brings together leaders of tax enforcement authorities from Australia, Canada, the United Kingdom, the […]
Top Four Tips For Taxpayers About The Gig Economy And Taxes From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item marketplace and it’s probably available through the gig economy which is proliferating through many digital platforms like Uber, Lyft and Airbnb. Here […]
For those of us who regularly experience migraines, life carries unique challenges. Migraines are a recurring type of headache. They cause moderate to severe pain that is throbbing or pulsing. The pain is often on one side of your head. Some people may also experience other symptoms, such as nausea and weakness. Some may even […]
Why Hire A Tax Attorney If You Are In U.S. Tax Court For IRC Sec. 280E? IRS Tax Audits in the cannabis industry can be quite tricky. We previously wrote a blog on appealing these audits. If you are involved in cannabis and dealing with an IRC Sec. 280E or other tax liability issue with […]
Why Hire A Tax Attorney If You Are In U.S. Tax Court? If you are dealing with a tax liability issue with the IRS and you are unable to reach a satisfactory resolution working with the IRS directly, then you may need to seek relief in the United States Tax Court. The U.S. Tax Court […]
Tools To Help Crypto Currency Traders Prepare Their Tax Returns After years of analyzing data from third parties involved in the cryptocurrency exchanges, the IRS announced in a press release on July 26, 2019 that it has started sending letters to cryptocurrency owners advising them to report their cryptocurrency transactions and pay their taxes. More […]
Could California Finally Get Cannabis Tax Reform? In a previous blog we reported that the California Department of Tax and Fee Administration (CDTFA) which oversees the reporting and collection of taxes for the California cannabis industry after conducting an analysis of statewide market data to determine the average mark-up rate between the wholesale cost and […]
With the proliferation of licensed cannabis businesses sprouting in the State Of California and a growing number of States, a lot of cannabis business will be filing tax returns with the IRS for the first time. But beware, the IRS is well aware that successful cannabis businesses don’t just sprout overnight and now that your […]
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