IRS official notes marijuana’s momentum; ACLU & NAACP push NJ gov for cannabis pardons; GOP congressman would “go easy” on marijuana as AG or POTUS
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/ TOP THINGS TO KNOW
A large-scale congressional stimulus and appropriations bill finally repeals a federal law that has blocked hundreds of thousands of students from getting financial aid just because they have marijuana or other drug convictions.
The legislation also continues to protect state medical cannabis laws from federal interference, extends the hemp pilot program and bans Washington, D.C. from legalizing recreational marijuana sales—but does not include House-passed provisions to expand banking access for the cannabis industry. Report language attached to the bill contains directives on hemp, CBD and other issues for federal agencies.
Internal Revenue Service Commissioner for the Small Business/Self Employed Division Eric Hylton acknowledged that marijuana reform is “moving in a direction where potentially all states will have it legalized” in a new webinar about tax compliance guidance for the cannabis industry.
“There are thousands of people who are trying to jump into the marijuana business right now. And as you become legalized throughout the country, we wanted to educate individuals.”