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asset forfeiture

DENVER — Money was pouring into Bruce Nassau’s five Colorado Legalized marijuana shops when his accountant called with the bad news: The 2014 tax season was approaching, and Mr. Nassau could not rely on the galaxy of deductions that other businesses use to reduce their tax bills. He was going to owe the Internal Revenue Service a small fortune. “I had to write a check for $275,000,” Mr. Nassau said. “Unbelievable.” The country’s rapidly growing 
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Property Seizures by Local and State Police Often Conducted Under Pretext that Property Is Connected to Illegal Drugs Advocates Applaud Holder for New Policy, Urge Congress to Make Reforms Permanent Today, Attorney General Eric Holder issued an order establishing a new policy prohibiting federal agencies from accepting civil asset forfeiture assets seized by state and local law enforcement agencies unless the owner is convicted of a crime. The U.S. Treasury Department, which has its own 
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