The IRS announced on February 5, 2019 that victims of the earthquake that took place on November 30, 2018 in Alaska may qualify for tax relief. Individuals who reside or have a business in the Municipality of Anchorage, Kenai Peninsula Borough and Matanuska-Susitna Borough have until April 30, 2019, to file certain individual and business […]
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 […]
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 supervision. The federal penalties for possession of any […]
A bill was just re-introduced in the California legislature that would give legal cannabis businesses a tax break to help them thrive and level the playing field with cannabis businesses that continue to operate in the grey and black markets. Assembly Bill 286 Was First Introduced February 16, 2018 The proposed legislation, which is sponsored […]
Israeli researchers record sharp improvement in measures such as quality of life, ability to dress and shower independently after 6 months of cannabis oil treatmen taccording to an Israeli study published in Nature. The joint study conducted by Ben Gurion University and Soroka Medical Center in Beer Sheva showed that cannabis oil was an effective treatment for […]
Don’t Let The Government Shutdown Give You A False Sense Of Security If You Owe The IRS With the temporary opening of the Federal government for three weeks announced on January 25, 2019, tax issues that were held in limbo may now see some movement. Temporary funding for the IRS for fiscal year 2019 expired […]
On January 4, 2018, former U.S. Attorney General Jeff Sessions announced the revocation of what is known in the cannabis industry as the “Cole Memo”. Attorney General Nominee William Barr Appears Committed To Reverse This Stance And Leave State-Legal Marijuana Programs Alone. In Senate testimony on January 15, 2019, nominee for Attorney General William Barr committed to […]
Despite Continued Government Shutdown, Some IRS Employees Are Being Called Back To Work Temporary funding for the IRS for fiscal year 2019 expired at midnight on December 21, 2018. We previously reported how the government shutdown is impacting IRS operations – click here. That initial contingency plan contemplated that the shutdown would last no more […]
January 31 Deadline Looms for Forms W-2 and 1099-MISC The possibility that the government shutdown will continue into next month resulting in many IRS employees not working to process Forms W-2 and Forms 1099-MISC has no impact on the January 31 deadline for filing these forms. Filing Deadlines for Forms W-2 and Forms 1099-MISC The […]
Federal Court Of Appeals For The Third Circuit Clarifies Standard for Proving a “Willful” FBAR Violation Not much has come out of the Courts defining that line between nonwillful and willful when it comes to not filing Foreign Bank and Financial Accounts Reports (“FBAR”) but now we have a recent U.S. Federal Circuit Of Appeals […]
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