Lawmakers want cannabis tax guidance from IRS (Newsletter: May 29, 2026)
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Lawmakers Push IRS To Issue ‘Prompt’ Tax Guidance For Marijuana Businesses Now That Rescheduling Is Happening
A group of congressional lawmakers are pressing federal officials to issue “prompt guidance” on tax issues for marijuana businesses in light of the Trump administration’s move to federally reschedule cannabis. A new letter, led by Reps. Steven Horsford (D-NV and Steve Cohen (D-TN), notes that “state-legal cannabis businesses have been denied ordinary business tax deductions […]