Categories: aggregated

The Dangerous 280E Tax Battle of Cannabis Companies vs. the IRS – Penalties and Interest Could Be Deadly If You Are Wrong!

Tax lawyers and risk specialists, however, caution that this choice is likely to start a protracted and costly legal battle with the IRS, which might result in fines of millions of dollars on top of already outstanding tax obligations. “As the saying goes, if something sounds too good to be true, it usually is,” said San Francisco-based tax attorney Henry Wykowski, who has represented several significant 280E-related cases before federal tax courts. “We believe this more aggressive strategy is reckless and will ultimately backfire on those who are pursuing it.”

Jason

Share
Published by
Jason

Recent Posts

Former New York Knick Iman Shumpert debuts legal cannabis brand with Glenmere Farms

The NBA champion and New York Knick will premier his new flower brand at Torches…

2 days ago

How New York pot pioneers made it to legal dispensary shelves

By: LMC Legacy to licensed is the motto for authentic New York brands entering the…

2 days ago

Vladimir Bautista is leading Happy Munkey’s legacy-to-legal takeover

Vlad Bautista began his cannabis empire in Harlem's Sugar Hill. Nearly 30 years later, his…

2 days ago

Scientists Now Think That One Compound in the Cannabis Plant Can Replace All Opiates

Cannabis terpenes are the compounds responsible for the aromatic profile of each strain; they are…

2 days ago

Cannabis and the Authoritarian State – Why Legalizing Cannabis Is Not on the Horizon

Authoritarians cannot let go of the value that keeping the most widely used illicit substance…

3 days ago