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One of the most highly litigated issues in U.S. Tax Court is whether taxpayers are liable for certain penalties, additions to tax or additional amounts.

A statute prohibiting tax deductions and credits for controlled substances should not permit the Internal Revenue Service to probe Colorado legal cannabis companies in a criminal investigation, the companies told the U.S. Supreme Court Tuesday.

To embed, copy and paste the code into your website or blog: For the last several years, a hot topic for policymakers has been how to address the nation’s massive student loan debt. At the same time, the pressure remains to develop ways to encourage Americans to save for their own retirement. Legislation is in the works that propose marrying those two goals. Earlier this week, the U.S. House of Representatives Ways and Means Committee passed a bipartisan retirement reform bill, the Securing a Strong Retirement Act of 2021 (or “SECURE 2.0,” to reflect its role in following in the footste...

To embed, copy and paste the code into your website or blog: To many in the cannabis industry, REIT is not a common acronym. Yet, as cannabis businesses seek ways to access additional capital, REITs are coming up in more and more conversations.   What is a REIT? “REIT” stands for Real Estate Investment Trust. Typically, a REIT is a corporation that has elected to be taxed as a REIT (which provides several tax advantages, including the ability to deduct dividends from taxable income). REITs generally raise money from outside sources, often on public markets, and use those funds to buy, de...

The American Rescue Plan Act of 2021, which President Biden is expected to sign this week, includes a handful of provisions affecting employee benefit plans and publicly-traded companies’ tax deductions for executive compensation.