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Seattle Times coverage of pot policy, culture and lifestyle.

November 24, 2014 at 7:57 AM

IRS advisory council says it’s OK for tax pros to help pot businesses

An advisory council to the Internal Revenue Service recommended in a report last week that the agency allow tax professionals to work with marijuana businesses in compliance with state law.

The council suggested the IRS publish guidance to “promptly clarify that a tax professional will not be considered unethical, will not be targeted for audit, and will not be in violation of Treasury Circular 230 solely for representing or preparing a return for a business that is illegal under federal law but legal at the state level under state law.”

Treasury Circular 230, which is mentioned in the recommendation, contains something akin to a code of conduct for tax preparers.

 

 

 

Comments | More in News | Topics: irs, taxes

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