Yesterday, the Tax Court issued its opinion in Alterman v. Commissioner, T.C. Memo 2018-83. This case involved the operation of a medical marijuana dispensary which was reported on Schedule
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IRS Guidance to Field: Deep Clean Equipment Used in Cannabis Businesses Before Selling
Attorneys representing cannabis businesses are often faced with questions about what happens when the cannabis business has not paid its taxes and the IRS is proceeding with collection actions. No
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District Court Holds Tax Liens Stay with Property after Conveyance
United States v. Gerard, a recent case from the Northern District of Indiana, demonstrates how a tax lien, once attached, can stay with property even after the property is
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Charles Rettig – From Private Practice to President Trump’s Nominee for IRS Commissioner
The White House released a statement on February 8, 2018 that President Trump nominated Charles Rettig as the new Commissioner of Internal Revenue Code for the remainder of a five
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Eleventh Circuit Cuts into Presumption of Correctness Standard for IRS Assessments
In United States v. Stein, the Eleventh Circuit recently decided a novel – but critical – issue for taxpayers. It held that an affidavit that satisfies Rule 56 of
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Law Firm Shareholders Liable for Trust Fund Recovery Penalties
The Internal Revenue Code requires employers to withhold certain taxes in “a special fund in trust for the United States” (sec. 7501(a)). IRS regulations require employers to pay these trust
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Pennsylvania Supreme Court: Corporate Tax Refund Claim Must Be Filed Within Three Years Of Original Tax Return Due Date
In Mission Funding Alpha, the Pennsylvania Supreme Court recently held that the statute of limitations for a corporation to file a refund claim in Pennsylvania begins to run when
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Take Heed: Tax Planning Too Good To Be True? It Might Be…And Taxpayers Can Be Penalized
We have all heard the old proverb “if it’s too good to be true, then it probably is.” In the tax world, this proverb might as well be referred to
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Tax Court Allows Petitioner to Claim Unsubstantiated Deductions
The issue before the Tax Court in Huzella v. Commissioner, T.C. Memo. 2017-210, centered around a coin business on eBay, and whether the petitioner, Thomas Huzella, could substantiate his
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IRS Audits of Cannabis Companies and the Importance of Substantiation
Today, the Tax Court issued its opinion in Feinberg v. Commissioner, a case involving an ongoing and hard fought battle between the IRS and a medical marijuana dispensary, Total
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