by David J. Warner | May 28, 2024 | Internal Revenue Service
Cannabis businesses that cultivate, distribute, or sell marijuana have long been subject to I.R.C. § 280E. Section 280E states that no deduction or credit is allowed for a business that “consists of trafficking in controlled substances (within the meaning of schedule... by Igor Drabkin | May 3, 2024 | Audit, Internal Revenue Service
On May 2, 2024, the IRS released its Strategic Operating Plan, setting forth its priorities and future goals. The plan focuses on five key objectives: Objective 1. Dramatically improve services to help taxpayers meet their obligations and receive the tax incentives... 
by David J. Warner | Apr 18, 2024 | Employment Tax, Internal Revenue Service
On April 26, 2024, Shareholder David J. Warner and Principal Michele Weiss will provide their expertise on the IRS audits of the employee retention credit (ERC) in a Strafford webinar entitled “Preparing for Employee Retention Credit Audits: Withdrawing a Claim,... 
by Richard Gano | Mar 6, 2024 | Employment Tax, Internal Revenue Service
The Employee Retention Credit (ERC) is a valuable tax incentive that was designed to encourage businesses to retain their employees during challenging economic times during the COVID-19 pandemic. Initially established under the CARES Act and subsequently extended... by Igor Drabkin | Mar 5, 2024 | Audit, Internal Revenue Service, Tax Litigation
On March 1, 2024. U.S. District Court for the Northern District of Alabama ruled that FinCEN’s Beneficial Ownership Information (BOI) reporting requirement enacted as part of Corporate Transparency Act (Public Law 116-283) constituted Congressional overreach and,... by Igor Drabkin | Feb 16, 2024 | FBAR, Firm News, Internal Revenue Service, Offshore Income
We are pleased to announce that Igor Drabkin will be speaking at the upcoming Strafford Publications webinar “FATCA Reporting: Filing Form 8938 for Taxpayers With Foreign Assets, Integrating Latest IRS Guidance” on Monday, March 11, 2024. The Foreign...