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IRS identifies paused taxpayer notices

While it works through its return and correspondence backlog, the IRS will not send out certain letters and notices, including for delinquent returns and payments.

FROM THIS MONTH'S ISSUE

Cannabis dispensary denied ERC

The Court of Federal Claims held that Sec. 280E, which prohibits deductions and credits for businesses trafficking in controlled substances, applies to the employee retention credit (ERC), including its refundable portion, and denied a cannabis business’s claim for a refundable ERC.