The IRS is Reportedly Overwhelmed by Cash Payments from Marijuana Businesses

While all other business in the United States pay their federal taxes by check or electronically, state-legal cannabis businesses pay their taxes in a rather old-timey way. The company schedules an in-person appointment with their local IRS office. When the company representative arrives, they’re shown to a secure space where, in front of two IRS agents who never leave the room, they count out tens or hundreds of thousands of dollars in cash. The yearly, nerve-rattling ritual is well-known to cannabis businesses. And it’s a symptom of the industry’s ongoing cash problem, its inability to access basic banking services due to the federal cannabis prohibition.


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