Entries by Tax Attorney

Under A Second Trump Term, How Will The U.S. Attorneys’ Office Support Or Hinder The Cannabis Industry?

During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines that limited federal interference in state-legal cannabis activities. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal […]

San Francisco Voters Approve A Significant Overhaul To The City’s Business Tax Regime

San Francisco Voters Approve A Significant Overhaul To The City’s Business Tax Regime On November 5, 2024 voters in San Francisco approved Proposition M (“Prop. M”) which aims to exempt more small businesses from taxes and fees, while reducing taxes on some of the city’s largest companies. Currently, San Francisco taxes businesses operating in the […]

How Will The Second Trump Administration Handle Cannabis?

During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines that limited federal interference in state-legal cannabis activities. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal […]

How Did Cannabis Fare In The November 2024 Elections?

The November 2024 Elections gave voters in 4 states—Florida, Nebraska, North Dakota, and South Dakota the opportunity to decide on whether they want to legalize recreational or medical/adult-use marijuana. Here are the results …. Florida – FAILED FOR RECREATIONAL/ADULT USE.  Although 55.9% voted for such constitutional amendment, it nevertheless failed because Florida requires a 60% […]

IRS provides tax relief for Alaska flood victims in Juneau.

IRS provides tax relief for Alaska flood victims in Juneau. On October 25, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in the Juneau area of Alaska, affected by flooding that began on August 5, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns […]

Excessive FBAR Penalties stopped by the 11th U.S. Circuit Court

Excessive FBAR Penalties stopped by the 11th U.S. Circuit Court Historic ruling that can impact challenging large penalties in the future. In recent years the IRS has made the Report of Foreign Bank and Financial Accounts (FBAR) penalty enforcement a top priority and this is alarming the taxpayers worldwide. Even during every routine domestic IRS […]

IRS provides expanded tax relief for Hurricane Helene and Hurricane Milton victims.

IRS provides expanded tax relief for Hurricane Helene and Hurricane Milton victims. On October 11, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by Hurricane Milton, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia. These taxpayers now have until […]