New IRS tax guidance for cannabis biz (Newsletter: September 14, 2020)

VA & VT marijuana expungements advance; NM gov: cannabis can fund Medicaid; NE 2022 ballot push begins; DC legalization protects man in fed court 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… Before you dig into today’s cannabis news, I wanted you to know you can keep this resource free and published daily by subscribing to Marijuana Moment on Patreon. We’re a small independent publication diving deep into the cannabis world and rely on readers like you to keep going.  Austin Cromer: “I subscribed to know when Iowa is finally gonna legalize cannabis as I am a current cannabis activist.” Join us at https://www.patreon.com/marijuanamoment / TOP THINGS TO KNOW The Internal Revenue Service released a new memo on marijuana industry tax issues, including making payments with large sums of cash. The move seems to be in response to a Treasury Department inspector general’s report from earlier this year that slammed the agency for not having cannabis-specific guidance. Virginia’s House of Delegates and Senate both approved bills to help people expunge prior marijuana convictions. This comes after both chambers also cleared legislation to stop police from conducting searches or…

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