IRS Examinations Of Cannabis Businesses Expected To Rise In 2022 – Are You Ready For An I.R.C. § 280E IRS Tax Audit?
While the sale of cannabis is legal in California as well as in a growing number of states, cannabis remains a Schedule 1 narcotic under Federal law, the Controlled Substances Act. As such businesses in the cannabis industry are not treated like ordinary businesses. Despite state laws allowing cannabis, it remains illegal on a federal level […]