Posted 12/15/25 This is the first video in the Canna Tax Bytes Series.
Transcript
Hello. My name is Bruce Andersen. I’m with CannabisCPA.Tax, and I’m very happy to be doing this quick, short presentation for you.
What’s going to happen at the end of December is the IRS, like every year, will be closing at the end of the day on the 26th at noon.
What the significance is that if you don’t have your tax filings done by that time, then there’ll be no taxes being processed by the IRS. For the tax year, 2022, if you are filing either an amended return or a first time filing, but late, and you file by the cut off of the 26th, that return will be E-filed. If you do not file it by that time, it will be paper filed. That means that it could be several months into 2026 before your paperwork is processed. There’s several ramifications for that. I’m not going to go into those at this time, but that’s just something to keep in mind of how you’re going to be processing between now and the end of the year. Thank you very much, and thank you for our next presentation.