Tag: Medical Marijuana

Marijuana Audits and Your Fifth Amendment Rights

marijuana audits

Can A Dispensary Claim Immunity to Avoid Future Criminal Prosecution? A Colorado medical marijuana company has refused to turn over documents to the IRS, citing fears that the records could be used against the company in a criminal proceeding. Standing Akimbo’s lawyer has said the Denver firm will claim the Fifth Amendment if it does… Read more »

How the IRS Audits Marijuana Dispensaries

IRS Marijuana Audit

What to Expect in an IRS Audit of Your Dispensary (or other cash business) Marijuana dispensaries are five times more likely to face an IRS cash business audit. In 1970, lawmakers approved Section 280E of the Internal Revenue Code as a punitive measure in the “war on drugs” which was just starting at the time…. Read more »