Four More States Could Still Legalize Marijuana This Year After New Mexico, New York And Virginia

Four More States Could Still Legalize Marijuana This Year After New Mexico, New York And Virginia

Author: John Schroyer

The IRS has been training its agents for at least eight years in the finer details of auditing marijuana companies, using PowerPoint presentations that outline everything from legal precedents to questions that should be asked during interviews with business owners.

Those are among the insights gleaned from a trove of documents Marijuana Business Daily obtained from the IRS, including seven PowerPoint presentations.

Many of the training materials focus on industry fundamentals – such as explaining Section 280E of the Internal Revenue Code or discussing decades-old legal precedents.

But the PowerPoints contain numerous revealing nuggets of information that offer cannabis business owners insights into how the IRS trains its agents to deal with the marijuana industry.

Compiled by agents in Colorado and Michigan, the presentations underscore how the IRS’ approaches to 280E and tax compliance evolve over time.

The first presentation was likely created in 2013 and the most recent in 2017.

View the full article at mjbizdaily.com