Taxing times blog header

Extenders Bill Expected in the House

By Amanda Wilson on Dec 8, 2015 in Congress, government, International, IRS, medical marijuana, Tax, tax extender

By: Amanda Wilson It seems that this time every year, Congress struggles with whether it will pass temporary tax breaks referred to as "tax extenders" (see discussion of last year's extenders package here). As we count down the days to 2016, we once...

More Information about New Partnership Audit Rules

By Amanda Wilson on Nov 10, 2015 in audit, budget, government, IRS, Partnership Tax, tax audit

By: Amanda Wilson A more detailed discussion of the impact of the new partnership audit rules can be found here.

Goodbye TEFRA, Hello New Partnership Audit Rules

By Amanda Wilson on Nov 9, 2015 in audit, government, International, IRS, Partnership Tax, Tax

By: Amanda Wilson Last week, President Obama signed into law the Bipartisan Budget Act of 2015. As I mentioned in a prior post (found here), the budget bill contained a proposal to revamp how partnerships are audited. Specifically, TEFRA (the 1982...

No Tax Deduction for Medical Marijuana Company

By Amanda Wilson on Oct 29, 2015 in Other, IRS, medical marijuana, tax court

By: Amanda Wilson As more and more states are allowing for medical marijuana or other legal uses of marijuana, it is important to recognize that the federal government's treatment of marijuana as a controlled substance can have more than criminal...