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The End of Zero-Tolerance Drug Policies

Zero-tolerance drug policies in the workplace are an endangered species. Traditional drug laws and policies as they relate to the workplace are being upended, and employers are increasingly struggling to grapple with the...more

Priority of IRS Liens in Bankruptcy: Reminder That the King Gets Paid First

So starts the opinion of the United States Court of Appeals for the Ninth Circuit in United States v. MacKenzie: “As Benjamin Franklin said, ‘nothing is certain except death and taxes.’ But how certain are taxes in a Chapter...more

Is a “Tip” Paid in Cryptocurrency a Tip for Employment Tax Purposes?

Tips are in the news lately. It seems like political strategists on both sides of the aisle have concluded that excluding tips from taxable income is good for votes. One has to wonder if this political promise will go the way...more

Litigation Byte (July Edition)

The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Court Upholds Law Classifying App-Based Drivers as Independent Contractors: Does What Happens in California, Stay in California?

The California Supreme Court recently upheld a California law that classifies drivers for app-based transportation companies, such as Uber, Lyft, or DoorDash, as independent contractors and not employees, provided the company...more

Podcast: Securing Retail Space for Your Cannabis Business [More with McGlinchey, Ep. 68]

This is the second episode in More with McGlinchey's two-part series on the ins and outs of retail space in the cannabis industry. Obtaining retail space for any small business is a big move. There are many issues to...more

TIGTA Reports: Virtual Currency Tax Compliance Enforcement Can Be Improved

The number of virtual currency types has added to this problem. According to TIGTA, the number of virtual currencies has grown significantly since April 2020, from 5,000 to over 26,000 (420 percent) as of July 2023. The two...more

This is the End … of Chevron Deference. What Does It Mean and What Comes Next?

On June 28, 2024, in a maximalist decision that went further than even the most ardent opponents of Chevron deference thought possible, the Supreme Court finally and emphatically overruled Chevron deference, the watershed...more

Podcast: Securing Retail Space for Your Cannabis Business (Episode 1 of 2) [More with McGlinchey, Ep. 65]

Obtaining retail space for any small business is a big move. There are many issues to consider, and working with a knowledgeable real estate lawyer helps to avoid surprises down the road. This is especially true for a...more

Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E

The cannabis industry knows well the economic burden imposed by Section 280E of the Internal Revenue Code of 1986 (Code). It substantially increases the cost of doing business because it disallows deductions for expenses...more

Legislation: Cryptocurrency Staking Rewards Taxed at Time of Sale

Proposed federal legislation would move the time of taxation for rewards received from staking cryptocurrency and other digital assets to the time of sale. IRS guidance currently provides that staking rewards are taxed at the...more

Tax Document Danger: Not All Delivery Services Are Safe for Filing

Another taxpayer has been stung by using the wrong version of a private delivery service, FedEx “Express Saver,” resulting in the late filing of an important tax document. Filing Requirements for U.S. Tax Court Petitions-...more

Corporate Transparency Act Held Unconstitutional

The Corporate Transparency Act (CTA) is unconstitutional, according to a March 1, 2024, ruling by Judge Liles Burke of the U.S. District Court for the Northern District of Alabama. The National Small Business Association...more

FinCEN Issues Access Rule, Small Entity Compliance Guide for Beneficial Ownership Information

The Corporate Transparency Act (CTA) requires certain businesses to provide beneficial ownership information (BOI) to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). BOI received by FinCEN...more

Corporate Transparency Act Reporting Begins: Are You Ready?

Effective January 1, 2024, companies must disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) within the United States Department of Treasury. The reporting requirement is part of the U.S....more

Podcast: Tax and Banking Implications of Rescheduling Marijuana [More with McGlinchey, Ep. 61]

In late August, the U.S. Department of Health and Human Services announced that it would recommend moving marijuana from Schedule I to Schedule III of the Controlled Substances Act. In this episode, corporate cannabis...more

Mailing Your Tax Return by the Due Date Is Not Enough

A recent United States Tax Court memorandum decision demonstrates once again the importance of understanding the rules for timely filing your tax return. See John P. Zaimes v. Commissioner of Internal Revenue. If a tax return...more

Podcast: Demystifying Agency Rulemaking, Ep. 2: Mastering Participation in the Process [More with McGlinchey, Ep. 60]

In the second episode of our two-part series, “Agency Rulemaking,” McGlinchey attorneys Michael Blumenthal, Douglas Charnas, and David Waxman will delve into the Paperwork Reduction Act (PRA), Regulatory Flexibility Act...more

Podcast: Demystifying Agency Rulemaking, Ep.1: Navigating the Administrative Procedures Act to Safeguard Against Overreaching...

In the first episode of our two-part series, “Demystifying Agency Rulemaking,” McGlinchey attorneys Michael Blumenthal, Douglas Charnas, and David Waxman will delve into the history and evolution of the Administrative...more

Business Owners and Managers May Have Personal Liability for Unpaid Payroll Taxes and Not Know It

A recent 9th Circuit Court of Appeals decision emphasizes again the potential exposure “responsible persons” have to personal liability for payroll taxes under the Trust Fund Recovery Penalty (TFRP) provisions of Section 6672...more

When Are My Rewards for Staking Cryptocurrency Taxed?

The IRS recently released Revenue Ruling 2023-14, in which it addresses the tax treatment of cryptocurrency staking rewards. The IRS phases the issue as follows: If a taxpayer that uses a cash method of accounting...more

Hemp in Your Suitcase Can Get You Convicted of Trafficking in Marijuana

A hard lesson was learned after cannabis was discovered in a suitcase at the airport: the government does not have to prove cannabis is marijuana to convict you of trafficking in marijuana. A new case recently clarified that...more

IRS Proposes New Program for Service Industry Employers to Avoid Paying Tax on Employee Unreported Tips

The Internal Revenue Service (IRS) is proposing a new voluntary program, referred to as the Service Industry Tip Compliance Agreement (SITCA) program, for employers in service industries to avoid paying the employer’s share...more

IRS Provides Guidance on How to Answer Digital Asset Question on Tax Return

Last year, the Internal Revenue Service (IRS) revised a question regarding digital assets that appears at the top of certain 2022 income tax returns. Now, in IR-2023-12, the IRS has provided guidance on how to answer that...more

Tax Win in Oregon Reminds Cannabis Businesses to Properly Classify Expenses

Tax season is nearly upon us. As cannabis businesses and the professionals who advise them can expect, navigating the variations and even direct conflicts that exist between and among the state and federal authorities that...more

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