OKCann Accounting Inc

06/30/2020

https://oklahoman.com/article/5665275/oklahoma-cannabis-businesses-sue-over-residency-location-requirements

For all the Cannabis folks.....this is a good read!

JUN 29, 2020 - Several medical ma*****na businesses in Oklahoma are asking a judge to block the state from enforcing laws they say could prevent some licensed cannabis businesses from continuing to operate. The businesses are asking an Oklahoma County district court judge to block the Oklahoma Medic...

06/11/2020

https://mjbizdaily.com/chart-medical-ma*****na-sales-in-oklahoma-near-300-million-in-first-five-months-of-2020/

Already one of the largest and fastest-growing markets in the country, Oklahoma’s medical ma*****na industry broke sales records in both April and May as consumers stocked up on products amid the coronavirus pandemic.

05/15/2020

URGENT NOTICE: The Oklahoma Medical Ma*****na Authority has initiated a recall of products processed by Moon Mix, LLC, a medical ma*****na processor in the Oklahoma County area. If you have products from Moon Mix that are marked "Batch 158", contact the dispensary you purchased it from for further details. *****narecall *****na

http://omma.ok.gov/Websites/ddeer/images/documents/URGENT%20NOTICE-Recall%20Moon%20Batch%20158_2020MAY15.pdf

05/13/2020

WHEN WILL YOU RECEIVE YOUR STIMULUS CHECK? With the direct deposit deadline behind us (as of 11am CST 05/13), the Internal Revenue Service began mailing paper checks the week ending April 24. The first round of people to receive checks will be those with an adjusted gross income (AGI) under $10,000.

Find your AGI below to see when your check will be mailed.

Between $10,000 AGI and $20,000 AGI: the week ending May 1.
Between $20,000 AGI and $30,000 AGI: the week ending May 8.
Between $30,000 AGI and $40,000 AGI: the week ending May 15.
Between $40,000 AGI and $50,000 AGI: the week ending May 22.
Between $50,000 AGI and $60,000 AGI: the week ending May 29.
Between $60,000 AGI and $70,000 AGI: the week ending June 5.
Between $70,000 AGI and $80,000 AGI: the week ending June 12.
Between $80,000 AGI and $90,000 AGI: the week ending June 19.
Between $90,000 AGI and $100,000 AGI: the week ending June 26.
Between $100,000 AGI and $110,000 AGI: the week ending July 3.
Between $110,000 AGI and $120,000 AGI: the week ending July 10.
Between $120,000 AGI and $130,000 AGI: the week ending July 17.
Between $130,000 AGI and $140,000 AGI: the week ending July 24.
Between $140,000 AGI and $150,000 AGI: the week ending July 31.
Between $150,000 AGI and $160,000 AGI: the week ending Aug. 7.
Between $160,000 AGI and $170,000 AGI: the week ending Aug. 14.
Between $170,000 AGI and $180,000 AGI: the week ending Aug. 21.
Between $180,000 AGI and $190,000 AGI: the week ending Aug. 28.
Between $190,000 AGI and $198,000 AGI: the week ending Sept. 4.
All other checks (e.g., those who didn’t have tax info on file): the week ending Sept. 11.

You can still go to IRS.gov and check the status of your payment by using the Get My Payment tool.

03/21/2020

UPDATE regarding the FEDERAL TAX DEFERRAL
On March 20th, 2020 Treasury Secretary Mnuchin tweeted that you will now have until July 15th, 2020 to FILE & PAY your 2019 tax return. The IRS later confirmed by issuing IRC Notice 2020-18. The Oklahoma Tax Commission (OTC) has followed suit and officially announced that Oklahomans will have until July 15th, 2020 to File and Pay their 2019 Oklahoma income tax return as well. With things constantly changing due to COVID-19, we are trying our best to keep you up to date and informed as information is released.

03/20/2020

Federal Tax Deferral
On March 17, 2020 Treasury Secretary Mnuchin announced that TAX RETURNS ARE STILL DUE APRIL 15. However, payments that are due on April 15th, or due with an extension on April 15th, may be delayed until July 15, 2020 without penalty or interest. If the return is not timely filed, or properly extended the 90-day relief will not apply.
The maximum amount of deferral is $1,000,000 for an individual and $10,000,000 for a corporation.
Refunds are unaffected. Within 90 days of April 15th the amount is due, without penalty or interest, and the IRS says they will not assess penalty or interest. Underpayment penalties for periods before April 15th appear to still apply.

02/25/2020

Are YOU in compliance??? Do not fall short or risk your business for not taking the time to be in compliance. OKCann Accounting Inc can help! 405-709-1701

02/17/2020

Another one in the books!

Virginia Approves Cannabis DecriminalizationMon / Feb 17th TG BranfaltFacebookTwitterVirginia lawmakers have approved broad cannabis decriminalization legislation; lawmakers there, however, have no intention of addressing adult-use legalization in this session. Full story after the jump.

01/08/2020

IRS confirmed that the nation's tax season will start for individual tax return filers on Monday, January 27th, 2020, when the tax agency will begin accepting and processing 2019 tax year returns!

Countdown to Jan 27, 2020. Showing days, hours, minutes and seconds ticking down to 0

12/25/2019

Wishing you and yours a very Merry Christmas!