Cannabis businesses can preserve their right to claim a refund for ordinary business expenses by filing protective amended federal tax returns under IRS Section 280E.
There are steps business owners who participated in the federal Employee Retention Credit (ERC) program can take now to prepare for a potential IRS audit.
What are your three options for complying with IRS notices?
Michigan Court of Appeals issues published decision that city's cannabis business license application and approval processes didn't violate due process clause of U.S. Constitution.
Legal challenges could delay or even upend Detroit’s cannabis business application process set to begin on Aug. 1, but applicants must prepare now in order to file timely.
After years of delay and speculation, the city of Detroit issues new recreational cannabis ordinance.
Will the federal SAFE Act, which would allow cannabis businesses to access traditional banking services, win Congressional approval before one its biggest supporters leaves office later this year?
Cryptocurrency payment networks could revolutionize cannabis industry and pressure federal government to allow traditional financial institutions to service the market.
With the SAFE Banking Act now pending in Congress, financial institutions would do well to begin considering the necessary due diligence to potentially service the cannabis industry.
Understanding what led a conservative Supreme Court Justice to question the federal government’s need to prohibit the intrastate use or cultivation of cannabis.
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Recent Updates
- Beyond 280e: The Future of the Ordinary Business Deduction for Cannabis Businesses
- What You Can do Now to Prepare for an IRS Employee Retention Credit Audit
- Understanding the 3 Options for IRS Notice Compliance
- City's Denial of Cannabis Business License Didn't Violate Right to Due Process
- Is Detroit’s Upcoming Cannabis Business Licensing Process a Path Through the Clouds or an Echo of 2021?
- ‘Free the Weed’ – Detroit City Council Approves Long-Awaited Recreational Cannabis Ordinance
- Hope Springs Eternal for the SAFE Banking Act
- Bitcoin’s Lightning Network Offers Promising Alternative for Cannabis Industry’s Banking Needs
- Will SAFE Banking Act Rescue Cannabis Industry From Lack of Access to Financial Services?
- Cannabis Smoke Signals from the United States Supreme Court