Treasury, IRS Announce Process for Tax Guidance Following DOJ Final Order on Medical Marijuana Rescheduling

WASHINGTON – Today, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) announce that they plan to issue guidance that addresses the federal tax consequences of the U.S. Department of Justice’s (DOJ) Final Order implementing President Trump’s Executive Order on Increasing Medical Marijuana and Cannabidiol Research.Background:The Executive Order on Increasing Medical Marijuana and Cannabidiol Research was issued on December 18, 2025 and directed the Attorney General to complete the process for moving medical marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA). DOJ’s Final Order places marijuana contained in FDA-approved products or subject to a state medical marijuana license, as well as certain marijuana extracts and certain naturally derived delta-9-tetrahydrocannabinols, in Schedule III, while leaving unlicensed marijuana crops, bulk marijuana, and any marijuana and marijuana extract that has not yet been incorporated into a FDA-approved drug product in Schedule I.Read more here.Forthcoming Guidance:Treasury and the IRS