Biden DOJ takes IRS side in marijuana 280E fight

[dwkl]

The Biden DOJ takes IRS side in marijuana 280E tax fight, arguing that state-legal cannabis businesses CAN be investigated by the IRS for probable violations of Section 280E of the tax code.

The Feb 2021 release of the filing was made by DOJ attorneys, led by acting Solicitor General Elizabeth Prelogar.

It is believed to be one of the first times the U.S. Department of Justice under the new administration has filed an opinion in a marijuana court case.

“That is precisely the federal government’s position and has been for many years,” Thorburn said. “We were hoping that the Biden administration would soften that stance. said James Thorburn, an attorney representing a Denver-based medical marijuana dispensary.

“It, unfortunately, has not and is doubling down.”

Section 280E of the IRS tax code prohibits marijuana businesses from taking traditional business deductions because the plant is listed as a Schedule 1 drug under the federal Controlled Substances Act.

Industry leaders are optimistic that federal marijuana law reform could come in the next two years because of the Democratic – control of the U.S. House, U.S. Senate and presidency.

But right now…there’s no money in it for the feds.  As always follow the money.

The post Biden DOJ takes IRS side in marijuana 280E fight appeared first on Michigan Medical Marijuana.

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[Wild Bill]

Biden has always been a drug warrior so this is hardly surprising.

 

[Restorium2]

19 hours ago, Wild Bill said:

Biden has always been a drug warrior so this is hardly surprising.

 

With everything going on right now Biden himself probably hasn't had a chance to weigh in.

Like Thorburn states, it's been  precisely the federal government’s position and has been for many years

[Mrniceguy00]

SMH thanks Biden 😒😔