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Navigating Cannabis Tax Compliance, Audits, and Section 280E

MyIRSRelief

This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Navigating Audit s IRS Audits The IRS has made it clear that cannabis businesses are a priority for audits.

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit.

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Aaron Slaughter Awarded 40 Under 40 Honor by Washington Business Journal

Withum

Withum is proud to share that Aaron Slaughter was named to the Washington Business Journal 40 Under 40 List for 2023. Aaron, who has over 12 years of experience in the industry, specializes in audits of multiemployer benefit plans and labor unions. Read the Washington Business Journal’s complete list of honorees.

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Evolution of the Sales Tax Audit: Have Audits Changed with Economic Nexus?

TaxConnex

So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. Many events can ignite a sales tax audit. But have sales tax audits changed over the last few years, through the pandemic and the introduction of economic nexus in 2018?

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Best Practices for Managing a Sales Tax Audit

TaxConnex

If you and your company haven’t been hit with a sales tax audit yet, congrats. In TaxConnex’s recent market survey more than one in four (26.7%) top finance professionals in a variety of industries report seeing an increase in state sales tax audits in the past two years. Sales Tax Audit Triggers. Sales Tax Audit Triggers.

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IRS Promises Fewer Audits of EITC Claims

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) IRS audits raise anxiety for many taxpayers. But beyond the EITC, there have been concerns over the years whether the IRS focuses enough on higher earners and has the resources to effectively audit complex partnerships and large corporations. Now, in a Sept. Now, in a Sept.

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New Approaches to Audits Gain Ground

CPA Practice

With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. These manual verification procedures are painstaking — and most often relegated to the audit professionals early in their career. By Tod McDonald.

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