Not sure that things are changing in the tax and legal worlds? Here’s proof that it is: The Internal Revenue Service (IRS) has released a new marijuana business webpage to help business owners understand and meet their tax responsibilities. That’s right. Marijuana. Webpage. At IRS.gov. You can find it here. The IRS says that it “understands […]
Internal revenue service
Cannabis industry in regulatory crosshairs
A recent U.S. Department of Treasury Inspector General report suggests that an increase in tax enforcement measures for the legal marijuana (cannabis) industry are imminent, with or without a corresponding increase in IRS guidance. The legal cannabis industry has expanded prodigiously over the last decade and, as of 2020, a majority of states now allow […]
How Do I Pay My Tax Without A Bank Account? and How Do I Avoid the 10% IRS Cash Tax Payment Penalty?
Part I. How Do I Pay My Tax Without A Bank Account? So you have already done the impossible… you started a cannabis company, it is operating, AND it is making a tax profit. First off, congrats! Now, how exactly do you pay that stinking tax bill? You don’t have a bank account, and you […]
