Search results for 280E Tax Rule

Navigating IRC Section 280E — Critical Updates for Cannabis Taxpayers as the 2025 Filing Deadline Approaches

With the April filing deadline for 2025 tax returns fast approaching, cannabis companies must once again confront the burden of Section 280E of the Internal Revenue Code (“Section...

280E Retrospective Relief: 7 Critical Steps for State Medical Cannabis Licensees

Part of The Schedule III Cannabis Hub If you are a cannabis CFO or CPA, the most expensive sentence in the IRS code reads: “No deduction or credit shall be allowed for any amount p...

Is the Most Impactful Part of Marijuana Rescheduling an Obscure Sentence in the Tax Code?

This is the second of 13 posts describing the impacts of marijuana’s rescheduling. An homage to Phish’s historic run at Madison Square Garden in the Summer of 2017, Budding Trends...

IRS Clarifies Tax-Free Educational Assistance Cap to Adjust With Inflation Beginning in 2027

On April 20, 2026, the Internal Revenue Service (IRS) issued new guidance on changes made by the 2025 One Big Beautiful Bill Act (OBBBA) to educational assistance programs under Se...

Trump Administration Releases Guidance on Clean Energy Tax Credit Restrictions

On February 12, 2026, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued Notice 2026-15 (Notice) to guide clean energy projects’ eligibili...

Tax Power Is Not Designed To Control Behavior

A somewhat under-the-radar decision by the U.S. Court of Appeals for the Fifth Circuit earlier this month is, on its surface, focused on the issue of home alcohol distilling. But t...

Cannabis tax relief is here, for some

The Justice Department's order delivers meaningful tax relief to the medical cannabis industry and signals a serious federal effort to align with state laws.

No Tax on Old Deal done prior to enactment of law: ITAT Rules Section 56(2)(x) Cannot Apply Retrospectively

No Tax on Old Deal done prior to enactment of law: ITAT Rules Section 56(2)(x) Cannot Apply Retrospectively   In a significant ruling protecting taxpayers from retrospective taxati...

90 Days, 10%: IRS Opens New Easement Settlement Window

Key Takeaways: The IRS has opened a limited settlement window for eligible conservation and historic preservation easement disputes, with a reduced 10% gross valuation misstatemen...

New IRS Guidance May Allow Real Estate Businesses to Reclaim Bonus Depreciation Lost to Section 163(j) Elections

Key Takeaways - IRS opens a limited window to reverse prior Section 163(j) elections. Revenue Procedure 2026-17 allows certain real estate businesses to withdraw an otherwise irrev...

IRS 1099-DA Crypto Rules Land on Tax Day as 53 Million Claim New Exemptions

IRS 1099-DA crypto reporting requirements take effect for the first time on Tax Day 2026, requiring every American who sold or traded digital assets in 2025 to account for those tr...

Penalty u/s 271(1)(c) Cannot Be Levied for Mere Disallowance: ITAT Rajkot Clarifies the Law | Key Ruling in Pardes Dehyd...

Penalty u/s 271(1)(c) Cannot Be Levied for Mere Disallowance: ITAT Rajkot Clarifies the Law | Key Ruling in Pardes Dehydration Co HUF vs ITO   Penalty notices under Section 271(1)(...

IRS roundup: May 1 – May 11, 2026

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for May 1, 2026 – May 11, 2026. May 1, 2026: The IRS Office of Chief Counsel i...

ITAT Lucknow: Disallowance Under Rule 8D(2)(ii) Cannot Exceed Exempt Income Earned

The Income Tax Appellate Tribunal (ITAT), Lucknow Bench, held that the calculated disallowance under Rule 8D(2)(ii) of the Income Tax Rules, 1962 must not surpass the exempt income...

Tax Fraud Blotter: Life must go on

CryptoPunks; Eight Percent Fund; fake Transaction Summaries; and other highlights of recent tax cases.

'It's Really Untenable,' Says $48M Poker Pro Erik Seidel As New Tax Rule Forces Him To Skip $10K Tournaments And Is 'Rea...

IRS Issues Final Regulations for ‘No Tax on Tips’ Occupations

On April 10, 2026, the Internal Revenue Service (IRS) and U.S. Department of the Treasury unveiled a new final rule implementing the “No Tax on Tips” provision of the 2025 One Big...

Court of Appeal Confirms Genuine EBT Loans not Taxable as Earnings (Pre-Disguised Remuneration Rules)

The Court of Appeal has confirmed in HMRC v M R Currell Ltd that, prior to the introduction of the disguised remuneration rules, a genuine and repayable loan made via an employee b...

Section 68 Cannot Tax Recorded Sales Again | ITAT Mumbai Rules Against Double Taxation of Turnover

Section 68 Cannot Tax Recorded Sales Again | ITAT Mumbai Rules Against Double Taxation of Turnover In a significant ruling with wide practical implications, the ITAT Mumbai has cla...

Crypto Tax UK 2026: HMRC’s New CARF Rules Explained

CARF is now live in the UK, requiring crypto exchanges to report all trades to HMRC. Find out how the new rules affect your Self Assessment. The post Crypto Tax UK 2026: HMRC’s New...

IRS Roundup: April 20 – May 1, 2026

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for April 20, 2026 – May 1, 2026. April 23, 2026: The IRS has reportedly begun...

Federal Court shuts down BVI tax escape for Canadian holding company

Anti-deferral rules cannot be made elective, the court warned in this stinging reversal

IRS offers guidance on recovering dyed fuel excise taxes

The IRS and the Treasury posted temporary regulations and a notice of proposed rulemaking outlining a new way to recover federal excise taxes paid on dyed fuel.

Net Operating Loss Carryforward and Carryback Provisions in Europe, 2026

Carryover provisions help businesses “smooth” their risk and income, making the tax code more neutral across investments and over time.