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How to survive a cannabis tax audit

It is a well-known fact that the IRS targets cannabis businesses, and a recent boost in funding suggests more audits could be in the industry's future. While there is no guaranteed way to avoid an audit there are several best practices cannabis operators should take to prepare for the worst. 

This Guide provides 17 pages of detailed best practices and procedures to help you prepare documentation, implement accounting best practices, and ultimately navigate the audit process to secure an optimal outcome. 

Sections include:

  • Keys to audit preparation
  • Providing documentation to the IRS
  • Optimal collaboration with IRS agents
  • Strategies for securing an outcome
  • Options for appeals and Tax Court

MGO Cannabis Practice

We help cannabis organizations of all sizes – from multi-state operators to pre-revenue start-ups – in every vertical and every market, establish optimal accounting processes, manage tax and regulatory compliance, perform audits to raise capital or engage in M&A, and everything else an operator needs to succeed.