Most recent peer review insights suggest that insufficient or inadequate documentation was the most common problem in not-for-profit audits, but better planning could prevent deficiencies.
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.
