IRS Clarifies Cannabis Tax Rules

ByiFind Taxpro Tax blog February 6, 2025 (0)
June 2024 Declaration Keeps Marijuana Businesses Under Strict Tax Rules: No Business Deductions for 2025 Tax Season On June 28, 2024, the IRS reaffirmed that marijuana remains a Schedule I controlled substance, reminding cannabis.

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IRS Still Seeking Syndicated Conservation Easements After Tax Court Loss

IRS Still Seeking Syndicated Conservation Easements After Tax Court Loss

ByiFind Taxpro Tax blog December 13, 2022
Certain syndicated conservation easement transactions are referred to as being “listed” in proposed regulations that were released today…
IRS Advisory Council

The IRS has updated its FAQ on the Unemployment Compensation Exclusion.

ByiFind Taxpro Tax blog December 12, 2022
The American Rescue Plan Act of 2021 helped those receiving unemployment benefits in 2020. In Fact Sheet 2022-39, the IRS updated frequently asked…

I.R.C. § 959 – Previously Taxed Earnings and Profits (PTEP)

ByiFind Taxpro Taxation,Taxation 101 December 12, 2022
The term PTEP refers to earnings and profits (E&P) of a foreign corporation attributable to amounts which are, or have been, included in the gross…

I.R.C. § 199A – Qualified Business Income

ByiFind Taxpro Taxation,Taxation 101 December 12, 2022
The Tax Cuts and Jobs Act which was enacted on December 22, 2017, created a new provisioncalled Qualified Business Income (QBI) under Sec. 199A.Sec…
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