Welcome
Daily Tax Report ®

Colorado Dispensaries Fail to Skirt Subpoenas in IRS Audit Fight

Oct. 20, 2020, 5:28 PM

Several Colorado marijuana dispensaries can’t avoid subpoenas issued as part of IRS audits related to a general ban on legal weed businesses’ federal tax write-offs, a Tenth Circuit panel ruled.

A Tuesday opinion, authored by Judge Mary Beck Briscoe, cited a large volume of precedent, writing that the dispensaries’ “arguments are directly foreclosed” by previous decisions. The cited cases include the court’s April decision in Standing Akimbo, LLC v United States, which held that Colorado must hand over records tied to a medical marijuana dispensary as part of an IRS investigation into potentially improper business deductions.

To read the full article log in. To learn more about a subscription click here.