Entries by Jeff

California Cities Decriminalize Psychedelics While The California Legislature Considers Legalizing Psychedelics

In February 2024, California Sen. Scott Wiener, and Assemblymember Marie Waldron, proposed Senate Bill 2012 named The Regulated Psychedelic-assisted Therapy Act and the Regulated Psychedelic Substances Control Act. This new proposal follows Governor Newsom’s veto of a bill in October 2023 that would have decriminalized the possession of psychedelic drugs. Newsom stated that he would support a bill […]

California Looking to Legalize Psychedelics

Currently there are two States that have legalized psychedelics, namely: Colorado and Oregon.  California is now considering to join these states as well.  In February 2024, California Sen. Scott Wiener, and Assemblymember Marie Waldron, proposed Senate Bill 2012 named The Regulated Psychedelic-assisted Therapy Act and the Regulated Psychedelic Substances Control Act. This new proposal follows […]

Michigan taxpayers impacted by August 2023 flooding and severe storms qualify for tax relief

On February 15, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, tornadoes and flooding that began on August 24, 2023 in parts of Michigan. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. The June 17, 2024, […]

Can Daily Cannabis Use Help Subjects With Generalized Anxiety Sleep Better?

According to data published in the journal Behavioral Sleep Medicine, patients with moderate anxiety report experiencing increased sleep quality following their use of cannabis. Furthermore, researchers with the University of Colorado at Boulder studied the relationship between cannabis use and sleep quality in 348 adults with symptoms of generalized anxiety. Study participants were to ingest […]

West Virginia taxpayers impacted by severe storms, flooding, landslides and mudslides qualify for tax relief

On February 7, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, flooding, landslides and mudslides that began on August 28, 2023 in parts of West Virginia. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. The June […]

New Tax Rule Affecting People Who Use Venmo, Paypal Or Other Payment Apps Put On Hold….. Again.

IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item marketplace and it’s probably available through the gig economy which is proliferating through many digital platforms like Uber, […]

Maine taxpayers impacted by December 2023 flooding and severe storms qualify for tax relief

On February 5, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms and flooding that began on December 17, 2023 in parts of Maine. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. The June 17, 2024, deadline […]

IRS Still Enforcing Rule Requiring Taxpayers To Report All Cryptocurrency And Digital Asset Income On Their 2023 Federal Income Tax Returns

Since 2019, Forms 1040 series, Individual Income Tax Return, includes the following checkbox question: At any time during the year, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency?   ◊ Yes            ◊ No For the 2023 tax year, that wording has changed slightly and has been added to […]

Rhode Island taxpayers impacted by September 2023 severe storms, flooding and tornadoes qualify for tax relief

On January 30, 2024 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses affected by severe storms, flooding and tornadoes that began on September 10, 2023 in parts of Rhode Island. These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments. The June 17, […]