Newsbrief: IRS hits MSO TerrAscend with 280E clapback
The IRS wants MSO TerrAscend to return an $8.3M (plus interest) refund it received related to industry-hated tax rule 280E. In recent years, several large MSOs have become more aggressive in claiming tax deductions related to 280E, based on their own interpretations of the tax code.
The refund TerrAscend received stemmed from a 2024 amendment of its 2020 tax return based on the company's new interpretation. At least . . .
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