Beware 2019 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the government to combat public support for marijuana and cast state legalization measures in a negative light while attempting to portray the drug as […]
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 […]
According to the Centers for Disease Control and Prevention (“CDC”), 30.3 million American adults, or about 9.4% of the U.S. adult population have diabetes. The Journal of Diabetes published data where persons having a history of cannabis use possessed more favorable indices related to diabetic control than do non-users. Researchers in Quebec, Canada assessed the […]
The Four Ways That IRS Selects Tax Returns For Examination I have yet to meet anyone who looks forward to having their tax return be selected for an audit by IRS so you should know the four main ways that the IRS selects returns for examination. Potential participants in abusive tax avoidance transactions — Some returns are […]
Just in time for summer! The Transportation Security Administration (“TSA”) quietly changed its cannabis policy over the Memorial Day weekend to allow passengers to bring some forms of cannabidiol (“CBD’’) oil, plus an FDA-approved marijuana based drug Epidiolex, on flights. The announcement was made on the TSA’s website: “Possession of marijuana and certain cannabis infused products, including some […]
It’s Summertime! Tips For Students Making Taxes Easy For Students With Jobs. With summer here, many students will turn their attention to making money from a summer job. Whether it’s flipping burgers or filing documents, student workers need to know some facts about their summer jobs and taxes. For students working as employees, not all […]
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