A California real estate professional was recently sentenced to 2 years in prison for filing false income tax returns that failed to report over $1 million in cash earned through marijuana sales made between 2012 and 2014. In addition, he was ordered to serve one year of supervised release and pay $466,707 in restitution to the IRS.
For more details on this case, click here.
If you operate a California business related to cannabis, you may want to review your current tax compliance; click here to read our previous blog post on this topic. For assistance with any of your tax compliance concerns, contact one of our attorneys today.