IRS Will Keep Applying 280E Tax On Marijuana For Years Prior To Rescheduling And Could Seize Assets From Businesses That Owe, Official Says

September 24, 2024

The Internal Revenue Service (IRS) will continue to seek tax payments from marijuana companies that have claimed deductions in anticipation of a possible federal rescheduling decision, an attorney with the federal agency says. And if the reform is enacted, he says IRS would theoretically be empowered to seize assets from cannabis companies that don’t pay […]