BREAKING: Terrascend asks judge to nix $8M IRS clawback
MSO TerrAscend asked a federal judge to reject an IRS attempt to claw back an $8.4M refund payment related to industry-hated tax rule 280E.
In 2024, TerrAscend amended its 2020 tax return, changing its claim of $0 in deductions to $64.6M in deductions, based on its interpretation of 280E. In June 2024, the company received a $8.3M tax refund for the 2020 tax year.
TerrAscend had filed its amended return months after rival Trulieve reported receiving a refund for $113M based on its interpretation of . . .
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