IRS' Cannabis Enforcement Records Search Ruled Adequate
Law360 (March 17, 2021, 4:05 PM EDT) -- The Internal Revenue Service properly responded to a public records request by a cannabis company for documents related to the agency's enforcement of a law prohibiting tax breaks for federally controlled substances, a Colorado federal court ruled.
The IRS provided several declarations to prove that its search for the records requested by cannabis company Rifle Remedies LLC regarding the agency's enforcement of Internal Revenue Code Section 280E was adequate, the court said in an order issued Tuesday. That provision of the tax code generally prohibits deductions for businesses that buy or sell federally controlled substances such as marijuana.
The IRS didn't...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!