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Tag: Audit
7 Best Practices for Audit Preparation in the Cannabis Industry
It's the time of the year when businesses of every industry prepare for tax season. For the cannabis industry, seasoned plant-touching business owners and...
How to Successfully Navigate an IRS Audit in the Cannabis Industry
IRS audits involving the Bank Secrecy Act (BSA) and the infamous tax code 280E are ramping up throughout the nation, and if operators aren’t...
More IRS Audits Are Coming. Here’s How to Handle Them.
It appears the Internal Revenue Service is keeping a close eye on the rapidly growing cannabis industry. The agency expects to audit more cannabis...
Cannabis Trade Group Counts 2,835 Illegal Cannabis Businesses on Weedmaps
SHERMAN OAKS, Calif. – Cannabis trade group United Cannabis Business Association (UCBA) yesterday posted an open letter addressed to California Governor Gavin Newsom and...
IRS Uses 280E to Go After State Legal Cannabis Businesses on Taxes
The complex issue of cannabis taxes just got a bit more confusing for some Colorado businesses.
The IRS has started audits on cannabis businesses in...