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 […]
Congressman Emmer Welcomes IRS Response On Guidelines For Reporting Virtual Currency On May 20, 2019 Congressman Tom Emmer (MN-R) announced in a press release that the IRS finally responded his letter that along with his fellow co-chairs of the Congressional Blockchain Caucus (current members being: Rep. Tom Emmer, Rep. Bill Foster (IL-D), Rep. David Schweikert […]
On July 10, 2019 the House Judiciary Committee lead by Chairman Jerrold Nadler (D-NY) delivered the following opening remarks during a Subcommittee on Crime, Terrorism, and Homeland Security hearing on “Marijuana Laws in America: Racial Justice and the Need for Reform” which also appears in his press release issued after the hearing: “Marijuana is one […]
Facts To Know When The IRS Sends A Private Debt Collection Service To Collect On IRS Debt. You would think that with all the fraudulent calls being made by parties presented themselves as working for the IRS to scam taxpayers out of money, the IRS would crackdown on this problem and tighten its reins. But […]
Beware 2019 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 […]
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 […]
According to the Centers for Disease Control and Prevention (“CDC”), 30.3 million American adults, or about 9.4% of the U.S. adult population have diabetes. The Journal of Diabetes published data where persons having a history of cannabis use possessed more favorable indices related to diabetic control than do non-users. Researchers in Quebec, Canada assessed the […]
The Four Ways That IRS Selects Tax Returns For Examination I have yet to meet anyone who looks forward to having their tax return be selected for an audit by IRS so you should know the four main ways that the IRS selects returns for examination. Potential participants in abusive tax avoidance transactions — Some returns are […]
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