Marijuana Companies Are Trying To Avoid Paying Taxes They Owe Under 280E Provision Without A 'Reasonable Basis,' IRS Says - Marijuana Moment

Marijuana Companies Are Trying To Avoid Paying Taxes They Owe Under 280E Provision Without A ‘Reasonable Basis,’ IRS Says

The Internal Revenue Service (IRS) is warning the marijuana industry that some companies have, without a “reasonable basis,” filled out a supplementary form in an attempt to take federal tax deductions that they’re prohibited from receiving under a provision known as 280E. In a new notice, IRS said that certain cannabis firms are attempting to … Continue reading Marijuana Companies Are Trying To Avoid Paying Taxes They Owe Under 280E Provision Without A ‘Reasonable Basis,’ IRS Says