In the latest Tax Court opinion addressing the application of Section 280E to cannabis businesses there is no good news. However, there is some new guidance. In Patients Mutual Assistance
Continue Reading Section 280E Litigation Update: Harsh Results for Resellers
The IRS recently reminded taxpayers that like-kind exchanges are now generally only available for exchanges of real property. This change was enacted as part of the Tax Cuts and Jobs
Continue Reading Like-kind Exchanges Limited to Real Property
New Jersey recently announced the New Jersey Tax Amnesty program. The New Jersey Division of Taxation has indicated that both individuals and businesses may qualify for the program. The amnesty
Continue Reading New Jersey Offers Tax Amnesty Program
The Bipartisan Budget Act of 2018 eases the requirements for combat-zone contractors to claim the foreign earned income exclusion. A U.S. citizen is generally taxed on his worldwide income. The
Continue Reading New Law Eases Requirements for Combat-Zone Contractors to Claim Foreign Earned Income Exclusion
I have recently penned a Law360 article discussing lessons learned from recent tax decisions impacting cannabis businesses. We will continue to cover this topic on this blog.
To be alerted
Continue Reading An Update on Litigation of Cannabis Business Tax Issues
There is not too much to say about the Tax Court’s latest decision involving a marijuana company. In Loughman v. Commissioner, T.C. Memo 2018-85, the operators of a Colorado
Continue Reading Section 280E and the Harsh Reality of Double Taxation
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
Continue Reading The High Tax Compliance Burden For Cannabis Businesses
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
Continue Reading IRS Guidance to Field: Deep Clean Equipment Used in Cannabis Businesses Before Selling
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
Continue Reading District Court Holds Tax Liens Stay with Property after Conveyance
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
Continue Reading Charles Rettig – From Private Practice to President Trump’s Nominee for IRS Commissioner