CAN2405. Keynote - Fireside Chat with IRS Counsel

Hear from Senior IRS Counsel Luke Ortner (IRS Counsel in: Lord v. Comm’r, Loughman v. Comm’r, Feinberg v. Comm’r), as he discusses tax challenges for cannabis businesses with Jennifer Benda. Topics include IRS outreach, Section 280E Constitutional arguments, BSA reporting, and Section 280E litigation issues such as substantiation, penalties, the scope of trafficking, and inventory accounting.

Learning Objectives:

• Identify tax issues that may arise as a result of rescheduling of cannabis.
• Apply Internal Revenue Code procedural and penalty frameworks to various cannabis industry tax issues.