Accountants Group Urges Clarity On Cannabis Tax Amid Rescheduling
An association of accountants is urging the federal tax agency to update its guidance for cannabis businesses in light of the potential for rescheduling.
The American Institute of Certified Public Accountants sent a letter to the Internal Revenue Service and the Department of the Treasury on Monday, urging them to update their guidance for cannabis businesses.
This request comes as cannabis may soon be rescheduled to Schedule III of the Controlled Substances Act, which would allow these business...