IRS Lawyer: The IRS Is Not Targeting cannabis Lawsuit targets Despite what an internal agency circular indicates. An internal agency circular indicates that the IRS is not targeting individuals who are engaged in cannabis-related activities. However, IRS Lawyer says that he empathized with companies looking to run legally within state law. However, unlike the Department of Justice or the Drug Enforcement Administration, which can in theory create their own rules and what they are going to do and not to do, the IRS does not really have power to just ignore 28C, he argues. Therefore, any activity related to cannabis would be considered income-based and therefore subject to the IRS code.
The current administration has taken a hard line on tax collection. President Barack Obama’s administration has promised to implement policies aimed at discouraging tax fraud and making it more difficult for tax payers to game the tax system. Recently, they’ve been focusing efforts on cracking down on the so-called offshore tax schemes, which involve strategies like creating a corporation in another country and using it to reduce the tax liability of an individual citizen living in the United States. The European Commission and World Bank have also joined forces to propose international legislation cracking down on offshore bank accounts and other tax havens, as well as other types of tax avoidance strategies.
If you are currently being audited by the Internal Revenue Service, it’s best to consult with a tax lawyer. They would be able to inform you on how to best answer questions to help you avoid being punished for failing to disclose financial information. Tax attorneys can also help you with strategies to fight back against an audit. For instance, if you live in a state that has adopted a marijuana law, then it may be in your best interests to declare this fact during an interview with the IRS. As a general rule, the more specific the information you can provide to the IRS, the better your chances of avoiding fines or even getting your charges dismissed. There are many grey areas within the law, however, and a knowledgeable tax lawyer would be able to guide you through them.
Many taxpayers run into problems with the Internal Revenue Service because they did not understand all the requirements and regulations regarding filing of their returns. If you have made mistakes in your return filing, then you should immediately consult a tax lawyer to ensure that you are not in violation of any of the laws. If you have already filed your return, but are now being audited, a good tax attorney would be able to help you deal with the situation. In some situations, it might be necessary to file an appeal with the IRS before the audit is finalized.
When an audit occurs, many taxpayers think that the worst thing that could happen is a notice of the audit sent to their home phone. This could not be further from the truth, however. You may be attending a business meeting, having a telephone conversation with a friend, or even working on your taxes when the notice comes in. If you have an irrefutable proof that the IRS is making incorrect deductions or claims, a good tax attorney could help you turn the tables and prove to the IRS that you are being innocent.
The IRS may be willing to work out a compromise, but a good professional tax lawyer could prevent that from happening. Many taxpayers who are facing a possible audit decide against taking the case to court, but a competent lawyer would know how to challenge the agency’s arguments. An audit is nothing new for most people, but knowing what to expect can help prepare you and your family for the next step. If you find yourself dealing with the IRS, you should not take anything lightly. A good IRS lawyer in Denver can help you get through the process and keep you out of trouble.