Entries by Bitcoin

IRS provides expanded tax relief for Hurricane Helene and Hurricane Milton victims.

On October 11, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by Hurricane Milton, including the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and […]

California Welcoming Cannabis Cafés

Governor Gavin Newsom has signed into law the cannabis café bill (AB 1775), to allow licensed cannabis lounges to sell non-alcoholic food and drinks, as well as tickets to onsite concerts, with local government approval. “Lots of people want to enjoy legal cannabis in the company of others,” said AB 1775’s author Asm. Matt Haney, […]

IRS provides relief to July 2024 storm victims in Illinois.

On October 1, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in parts of Illinois affected by severe storms, tornadoes, straight-line winds and flooding that began on July 13, 2024. These taxpayers now have until February 3, 2025, to file various federal individual and business tax returns and make tax […]

IRS provides relief to victims of Tropical Storm Debby in Pennsylvania.

On September 18, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in Pennsylvania affected by Tropical Storm Debby. These taxpayers now have until February 3, 2025, to file various federal individual and business tax returns and make tax payments. The tax relief postpones various tax filing and payment deadlines that occurred from […]

IRS provides relief to victims of Tropical Storm Francine in Louisiana.

On September 13, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in Louisiana affected by Tropical Storm Francine that began on September 10, 2024. These taxpayers now have until February 3, 2025, to file various federal individual and business tax returns and make tax payments. The tax relief postpones various tax filing […]

IRS provides relief to victims of severe storms and flooding in Connecticut and New York.

On September 10, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in Connecticut and New York affected by severe storms and flooding from torrential rainfalls that began on August 18, 2024. These taxpayers now have until February 3, 2025, to file various federal individual and business tax returns and make tax payments. […]

IRS tax relief now available to U.S. Virgin Islands victims of Tropical Storm Ernesto.

On August 28, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in the U.S. Virgin Islands affected Tropical Storm Ernesto that began on August 13, 2024. These taxpayers now have until February 3, 2025, to file various federal individual and business tax returns and make tax payments. The tax relief postpones various […]

DEA Sets Hearing On Cannabis Rescheduling Thus Delaying Its Decision Until After The Election

The prime benefits of reclassifying cannabis from a Schedule 1 substance to a Schedule 3 substance is that the Federal government would recognize medical benefits of cannabis, make Section 280E inapplicable to licensed cannabis operators, and open up financial and banking markets. On August 26, 2024 the Drug Enforcement Administration (“DEA”) released its notice scheduling […]

Did You Receive Funds From The Employee Retention Credit Program That You Were Not Eligible To Receive? Here are the five new red flags that IRS is looking for.

IRS opens second Employee Retention Credit Voluntary Disclosure Program sending up to 30,000 letters to address more than $1 billion in errant claims Thousands of new recapture letters going out for improper ERC claims made for Tax Year 2021, some Tax Year 2020. As part of ongoing compliance work, the IRS announced on August 15, […]