Entries by Tax Attorney

What Taxpayers Who Pay Business Expenses With A Credit Card Can Learn From A Recent Investigation Made By The Treasury Inspector General for Tax Administration

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What Taxpayers Who Pay Business Expenses With A Credit Card Can Learn From A Recent Investigation Made By The Treasury Inspector General for Tax Administration On January 28, 2022, the Treasury Inspector General for Tax Administration (TIGTA) released its audit report citing violations of IRS officials improperly charging expenses on credit cards. Why TIGTA Did […]

Police Uncover Illegal Grow Operation In Santa Ana Seize More Than 5,000 Marijuana Plants

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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 […]

Getting Ready For Tax Season 2022 – Did You Receive Your Third Round of Economic Impact Payments from IRS?

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Getting Ready For Tax Season 2022 – Did You Receive Your Third Round of Economic Impact Payments from IRS? The IRS announced that as of February 26, 2022 all third-round Economic Impact Payments (EIP) have been issued and reminds people how to claim any remaining stimulus payment they’re entitled to on their 2021 income tax […]

Oral CBD Found to Inhibit COVID-19 Infection in Humans

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According a report published in the journal Science Advances, a research study found that cannabidiol (CBD) effectively blocks SARS-CoV-2 replication in human cells. The goal of this study was to determine whether CBD, a natural product extracted from the cannabis plant, has the potential to inhibit infection of cells by SARS-CoV-2. To this end, researchers utilized […]

Getting Ready For Tax Season 2022 – What You Need To Know About Reporting Cryptocurrency.

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Getting Ready For Tax Season 2022 – What You Need To Know About Reporting Cryptocurrency. Cryptocurrency / Bitcoin – Is this the 21st century answer to hiding assets in Swiss bank accounts?  The IRS thinks this is the case which is why the IRS has stepped up its investigation efforts to uncover non-compliant taxpayers just like […]

Can Cannabis Help Younger People Have Greater Orgasms And Sexual Performance?

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According a report published by MDPI based in Basel Switzerland in the journal Healthcare, new analysis conducted in Spain found that younger individuals (18 to 30 years old) who consume cannabis and alcohol perform better in their sexual function, arousal, and orgasm over their counterparts who do not use either. The report noted that “alcohol, […]

How COVID-19 And Underfunding Impacts IRS Operations And Causes Refund Delays For Taxpayers.

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How COVID-19 And Underfunding Impacts IRS Operations And Causes Refund Delays For Taxpayers. As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government department that monitors the Internal Revenue Service) must send a report to Congress describing challenges the IRS is facing, problems experienced by taxpayers in dealing with the […]

National Taxpayer Advocate Delivers 2021 Annual Report to Congress With No Mention Of Unfair Taxation Of Cannabis Businesses Or Uncertainty Of IRC Section 280E.

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As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government department that monitors the Internal Revenue Service) must send a report to Congress describing challenges the IRS is facing, problems experienced by taxpayers in dealing with the IRS and recommendations to resolve these problems. On January 12, 2022, National Taxpayer […]