Ethics, Tax Practice and the Cannabis Industry
Online
2.00 Credits
Member Price $89.00
Non-Member Price $119.00
Overview
This course provides an in-depth discussion of the ethical considerations and compliance requirements when working with taxpayers in the cannabis industry. Attendees will review the implications of Circular 230, preparer due diligence, and the specific challenges posed by conflicting federal and state laws. Federal case law, standards set by Boards of Accountancy, and guidance from the IRS Office of Professional Responsibility will also be covered to help practitioners navigate this complex area with confidence.
Objectives
- Evaluate ethical dilemmas related to providing tax assistance in the cannabis industry.
- Analyze relevant Tax Court cases and their impact on tax practice.
- Apply Circular 230 standards to scenarios involving cannabis-related businesses.
- Implement preparer due diligence practices tailored to cannabis clients.
- Discuss the interplay between federal regulations and state cannabis laws.
- Examine Board of Accountancy standards related to cannabis-related tax practice.
- Interpret guidance from the IRS Office of Professional Responsibility.
- Develop strategies to maintain compliance while minimizing risks in cannabis-related tax practice.
Highlights
- Ethical challenges in the cannabis industry
- Circular 230 and its application
- Federal case law and cannabis-related tax disputes
- Preparer due diligence in cannabis tax scenarios
- State vs. federal legal conflicts in tax reporting
- IRS Office of Professional Responsibility guidance
- Board of Accountancy standards and enforcement
- Risk management for cannabis-related tax clients
Designed For
CPAs, EAs, tax professionals working with cannabis-related businesses or considering entering this niche industry
Prerequisites
None
Preparation
None
Notice
Your webinar can be accessed via https://ctcpas.acpen.com/. If you do not have an ACPEN account, please sign up for an account using the email address you have on file with CTCPA.
Leader(s):
Leader Bios
Mary Jane Hourani, MM, EA, NTPI Fellow, Hourani & Associates, Inc.
Mary Jane Hourani, MM, EA, NTPI Fellow, Tax Accountant
Mary Jane has been practicing since 1993, working for a couple larger Tax, Accounting, & Audit Firms before transitioning to her own practice in 2005.
Mary Jane has a Master of Management from Walsh College of Accountancy and Business Administration as well as a Bachelor of Science from Eastern Michigan University in Public Administration with a focus in Organizational Development and Governmental Accounting.
She is credentialed as an Internal Revenue Service Enrolled Agent, allowing her to practice before the IRS. With this credential, she has direct oversite by the IRS Office of Professional Responsibility. She is also a National Association of Enrolled Agents NTPI Fellow.
Mary Jane has been an Instructor of Tax for Michigan State University Tax School since 2014 as well as a speaker for several trade organizations since 2010.
Mary Jane has been a Contributing Editor and/or Contributing Author of the National Tax Workbook for the Land Grand University Tax Education Foundation since 2015. She writes and compiles tax course packs used by Michigan State University Tax School. Mary Jane is an author/speaker for several national trade organizations and national CPE providers. She is a former H&R Block Instructor/Trainer.
Mary Jane is a member of the National Association of Enrolled Agents, Michigan Association of Certified Public Accountants, National Association of Tax Professionals, American Institute of Professional Bookkeepers, and is a QuickBooks ProAdvisor.
Non-Member Price $119.00
Member Price $89.00