CAN2316. Taxes: Part 2

Lawyers to join and discuss important Tax Court opinions and the arguments the IRS is making in current matters. The discussion will consider the IRS approach to various Cannabis industry tax positions including Section 471(c), how it differs from Section 471(a) and how it might be defended. Discussion will also center on the process of defending a tax position (settle, appeal, trial) and the IRS’s current position on some key issues including Bonus Depreciation, Section 263A, tax collections, and penalties.

Learning Objectives:

• Determine how attorneys defend COGS on a tax return.
• Analyze how attorneys look at practitioners work, how do they make a compelling argument, and how can accountants support that as collaborative process and professionals.