As more states legalize the sale of marijuana for recreational and/or medical use, owners of dispensaries face a dilemma: They must comply with federal tax rules even though their businesses are not legal for federal law purposes. This obligation is challenged by the fact that banks may not allow such businesses to have bank accounts. One business is challenging an IRS penalty for failing to deposit employment taxes even though it was barred from having a bank account from which to make such tax payments. We’ll see what happens.
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