Taxes

To assist the national marijuana industry in paying its federal taxes, the Internal Revenue Service issued a series of guidance documents that apparently are aimed at clarifying the process for businesses.The IRS announced the guidance via Twitter on Friday and wrote on its website that “a key component in promoting the highest degree of voluntary compliance on the part of taxpayers is helping them understand and meet their tax responsibilities.”

The new range of online documents include an FAQ page, guidelines on how to pay taxes in cash, an explanation of Section 280E and links to various forms and regulations that MJ companies need to follow.

Read the full article at https://mjbizdaily.com/

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