IRS Gets Green Light From Court On Pot Co. Summonses

By Theresa Schliep (September 3, 2021, 2:00 PM EDT) -- The IRS can proceed with summonses seeking sales reports and other data on a marijuana dispensary, as a Colorado federal court ruled that the information requests are within the agency's authority to investigate its tax reporting and liabilities.

The Internal Revenue Service can go ahead with the summonses seeking information on Standing Akimbo LLC in its audit of the dispensary, U.S. District Judge Philip A. Brimmer said in an opinion issued Thursday. Many of the dispensary's arguments challenging the summonses are ruled out by the Tenth Circuit's ruling letting the IRS proceed with identical summonses for Standing Akimbo's tax information that involve...

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