Marijuana Mogul, Pot Growth Firm Challenge $7.8 Million in TaxesA businessman who calls himself the “Godfather of Good Cannabis” and the marijuana growing company he founded almost 30 years ago are challenging a multi-million IRS tax bill in federal court.Bloomberg Tax News15d agoWhole story →Economytax court challenge
IRS Publishes Notice Requesting Comments for Opportunity Zone Implementation Following OBBBA AmendmentsThe IRS published a notice requesting additional comments on guidance under I.R.C. §1400Z-2 following amendments to the qualified opportunity zone rules made by the One Big Beautiful Bill Act (OBBBA). ...Bloomberg Tax News15d agoWhole story →EconomyBuildopportunity zone rule update
U.S. District Court Allows Foreclosure of Federal Tax Liens on Property Awarded to Non-Liable Former SpouseThe U.S. District Court for the District of Utah held that foreclosure of federal tax liens against jointly owned property was appropriate under I.R.C. §7403 despite a state divorce decree ...Bloomberg Tax News15d agoWhole story →EconomyGovernmentfederal tax lien foreclosure ruling
Michigan Treasury Conforms to Federal Deductions for Qualified Tips, Overtime PayThe Michigan Department of Treasury announced that Michigan will conform to new federal deductions for qualified tips and overtime compensation under Public Act 24 of 2025. For tax years beginning ...Bloomberg Tax News15d agoWhole story →Economymichigan tax law update
EPA Unlawfully Cancelled Billions in Solar Funds, Judge RulesThe Trump administration unlawfully rescinded a $250 million grant program for solar energy for the largest county in Texas, a federal judge ruled.Bloomberg Tax News15d agoWhole story →Planetepa solar funds ruling
There’s a Secret Third Path to Cut US Debt: Kathryn Anne EdwardsThe US deficit has reached $1.97 trillion and is on track to pass 6% of gross domestic product this fiscal year, the latest milestone in a remarkable deterioration of the federal budget. With national debt at a record $40 trillion, the feeling that the music must stop at some point has jittery market watchers zeroed in on a jittery bond market.Bloomberg Tax News16d agoWhole story →Economyus debt crisis
Modi Plans Canada Trip for Trade Deal, Speeds Up Mexico TalksIndia is accelerating trade talks with Canada and Mexico as the three economies seek new markets and partners in response to the disruption unleashed by President Donald Trump’s tariff policies.Bloomberg Tax News16d agoWhole story →EconomyDonald Trumpindia canada trade talks
