U.S. Internal Revenue Service (IRS)

Tax and calculator buttonsToday, the Tax Court issued its opinion in Feinberg v. Commissioner, a case involving an ongoing and hard fought battle between the IRS and a medical marijuana dispensary, Total Health Concepts, LLC.  The IRS examined THC’s 2009 through 2011 tax returns.  As a result of the examination, the IRS adjusted the member taxpayers’ returns

Tax and accounting issues you should not ignore when setting up your marijuana business:

  • The Trouble with Cash Based Businesses
    • Internal Controls – any cash based business is closely scrutinized by the IRS and other taxing authorities; having strict internal control procedures, in writing, which are strictly enforced, will go a long way in establishing