IRS resists call for cannabis biz tax guidance (Newsletter: April 3, 2020)

IRS resists call for cannabis biz tax guidance (Newsletter: April 3, 2020)

ID medical marijuana effort suspended; Senators push for cannabiz loan access; Congresswoman: Shutting rec stores hurts veterans; IL sales grow Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day. (function() { window.mc4wp = window.mc4wp || { listeners: [], forms: { on: function(evt, cb) { window.mc4wp.listeners.push( { event : evt, callback: cb } ); } } } })(); Email address: Leave this field empty if you’re human: Your support makes Marijuana Moment possible… By starting a $10 per month pledge on Patreon—or about 45 cents per issue of this newsletter—you can help us rely less on ads to cover our expenses, hire more journalists and bring you even more marijuana news. https://www.patreon.com/marijuanamoment / TOP THINGS TO KNOW The Internal Revenue Service is pushing back against an internal Treasury Department inspector general’s report that recommends the agency do a better job advising marijuana businesses about their obligations under the 280E tax provision that blocks deductions that are available to other industries. An Idaho effort to put a medical marijuana initiative on the ballot is the latest in a series of drug policy reform campaigns across the country to suspend in-person signature gathering amid the coronavirus outbreak. A group of 11 senators, led by Sen. Jacky Rosen (D-NV), is pushing Appropriations Committee leaders to adopt report language allowing marijuana companies to access Small Business Administration loans and disaster assistance programs. Rep. Katherine Clark (D-MA) is…

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