With tax season approaching, the American Institute of CPAs (AICPA) is calling on the IRS to prepare for potential changes impacting cannabis businesses. The AICPA has submitted recommendations to the U.S. Treasury and IRS to clarify tax obligations for cannabis operators if marijuana is reclassified as a Schedule III substance, as recommended by the Department of Health and Human Services. This reclassification could allow cannabis businesses to deduct operating expenses currently restricted under Section 280E, potentially leading to significant tax relief.