On January 20, 2025 President Trump named Derek Maltz to take over as DEA administrator on an interim basis. Since his previous retirement from the DEA, Maltz was working as head of government relations for a software company. Maltz, whose 28-year DEA career included 10 years as special agent in charge of the agency’s Special […]
Danny Werfel who was sworn in as the 50th IRS Commissioner on April 4, 2023 announced his resignation effective January 20, 2025 even though his current 4-year term does not expire until 2027. Donald Trump who will be inaugurated as President on January 20, 2025 has named his nominee, former U.S. Representative Billy Long of […]
The prime benefits of reclassifying cannabis from a Schedule 1 substance to a Schedule 3 substance is that the Federal government would recognize medical benefits of cannabis, make Section 280E inapplicable to licensed cannabis operators, and open up financial and banking markets. On August 26, 2024 the Drug Enforcement Administration (“DEA”) released its notice scheduling […]
On January 10, 2025 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in southern California affected by wildfires and straight-line winds that began on January 7, 2025. These taxpayers now have until October 15, 2025, to file various federal individual and business tax returns and make tax payments. The California Department Of Tax And […]
A number of U.S. taxpayers with beneficial ownership and control over funds held in accounts at Trident Trust Group and its affiliates (collectively, “Trident”), have admitted failing to report income earned from their offshore accounts on their federal tax returns. The IRS has reason to believe that other U.S. taxpayers who held or presently hold […]
California under its Sales And Use Tax Law, imposes sales tax on vehicles purchased and delivered in the State. This applies to new and used vehicles. The sales tax is based on the sales price of the vehicle without any reduction for trade-in value of a vehicle owned by the buyer. The California Department Of […]
Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Put On Hold By The 5th Circuit Court Of Appeals. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant to the Corporate […]
Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Still Remains Despite Challenge At The 5th Circuit Court Of Appeals. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant to […]
Nationwide Block On The Corporate Transparency Act Remains In Place Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Put On Hold The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant […]
President Biden Signs Into Law Expanded Federal Disaster Tax Relief On December 12, 2024 President Joe Biden signed H.R. 5863, the “Federal Disaster Tax Relief Act of 2023” which will designate a series of presidentially declared disasters as qualified disaster events. What this means – if you were impacted by recent hurricanes, you can now […]
Follow
Follow