IRS Opens Cannabis Tax Task Force

Patrick Oglesby, former Congressional tax committee staff lawyer and founder of the Center for New Revenue, a North Carolina-based tax policy nonprofit, has been named to head a new IRS-Treasury Task Force on cannabis tax policy.  IRS Chief Counsel W. Paul Wilkins said, “We welcome Pat back to government service.  With marijuana legalization looming on the federal level, the executive branch needs to weigh in – and to have someone work with Congress to develop tax laws we can effectively and efficiently administer, including a marketing-focused substitute for 280E.”

Oglesby said, “It’s an honor and a privilege to serve.  Whatever happens with marijuana legalization, it won’t hurt to think about these things.  I’ve agreed to serve for $1 a year, so this effort won’t bust the budget.

“We’ll be listening to all sides as this Task Force moves forward.  I’ll be looking to add stakeholders and tax professionals, but today I’m delighted to name the first two members of the Task Force:  two young theoreticians who seem to mean well, prohibitionist Dr. Kevin Sabet and legalizer ‘Radical’ Russ Belville.  Whatever policies these two can agree on should be bulletproof enough to sail through Congress in weeks.

“My friends in government were skittish at first about getting into the marijuana discussion.  And frankly, it was an uphill battle to get this assignment for myself.  But ultimately I persuaded some folks to hope that I might have a few good years left.

“I want this process to be as open as possible – and I want to get started right away.  While we wait for the bureaucracy to churn out an official government email account, please send suggestions to IRStransition@newrevenue.org.  All emails are subject to public disclosure.”

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UPDATE:  April Fool!

 

 

 

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