Challenging 280E: Understanding Rewards and Risks of Amending Your Tax Returns

With marijuana playing a significant role in upcoming election ballots and Federal Rescheduling on the horizon, what does the future of IRS Section 280E hold for heavily taxed cannabis businesses? 

At least five large MSOs have announced they are no longer reducing their deductions with Trulieve reportedly receiving a successful refund from an amended 2023 tax return. Additionally, Canna Provisions and Verano Holdings Corp. have filed in the U.S. Court of Appeals, arguing that the Controlled Substances Act (CSA) cannot be enforced in states with their own cannabis regulations. 

Join us for the upcoming webinar, “Challenging 280E: Rewards and Risks of Amending Tax Returns.” This in-depth session will dive into: 

● An In-depth analysis of the evolving cannabis regulatory and tax landscape. 

● Recent actions by industry leaders and Federal agencies that are reshaping the approach 280E, 

● Potential implications of cannabis companies challenging 280E, 

● Exploration of the history of marijuana being classified as a Schedule 1 drug, 

● Recent IRS cannabis 280E compliance warning and notice of increased scrutiny. 

● Learn from the experts at Calyx CPA on navigating uncertainty in cannabis tax planning, how these changes can impact cannabis businesses and more.