Nick J. Richards

Practice Areas

Tax, Cannabis, Regulatory Compliance & Defense

Career

Nick Richards is an experienced tax attorney, partner, and co-chair of the Cannabis Law practice group at Greenspoon Marder LLP. As a tax controversy attorney, he represents individuals and businesses in tax audits & trials, M&A, and in managing tax debt. He also advises cannabis companies, owners and investors regarding tax and regulatory compliance matters. Mr. Richards has been a tax attorney for more than twenty years beginning his career with the IRS where he was a leading trial attorney, a Chief Counsel advisor, and a Special Assistant United States Attorney.

With his broad experience and understanding at all phases of the tax system, from reporting and assessment through appeals, court, and tax debt resolution, Mr. Richards achieves successful legal solutions tailored to his individual client’s needs. Mr. Richards also teaches tax attorneys and CPAs throughout the US and he is an Adjunct Professor of Law at the University of Denver, Graduate Tax Program.

Taxes can be stressful and Mr. Richards’ clients find relief in his broad experience in the IRS and in representing taxpayers large and small. He understands the tax system, provides informed advice, and protects taxpayers from the mistakes and missteps of those less experienced. Several years after leaving the IRS, he represented a Colorado cannabis company in one of the first IRS audits in the legalized industry. Since that ground-breaking case, he has gone on to successfully represent companies in many cities, states, courts and before the federal government. In addition to tax audits, trials and collections, he is widely recognized as a leading cannabis industry attorney and has extensive experience in IRC Section 280E and BSA cash reporting requirements. His knowledge of the tax system is essential when advising business owners and investors, particularly in mergers, acquisitions and entity formation.

Professional Memberships

Bhang Corporation, Former Board of Directors

University of Denver, Adjunct Professor of Law

Cannabis Certification Counsel, Board Member

Cannabis Growth Opportunity Corp, Board Member

California State Bar, Member

Colorado State Bar, Member

ABA Tax Section, Member

National Cannabis Industry Association, Member

Future Tax Leaders, Member

AICPA Cannabis Expert Panel

Publications

Mr. Richards regularly contributes to the firm's Cannabis Law blog: https://www.gmlaw.com/news/category/cannabis-blog/

Additional articles include:

Author, “Opinion: Cannabis companies should file amended tax returns to claim 280E refunds,” MJBizDaily, January 26, 2024

Author, “CRYPTO AUDITS,” November 1, 2023

Author, “HIGH NET WORTH AUDITS,” October 25, 2023

Author, “SURVIVING AN ERC AUDIT,” October 23, 2023

Author, “Opinion: Cannabis businesses could recoup millions on exit, thanks to ‘280E asset’,” MJBizDaily, September 1, 2023

Author, “Capitalizing Disallowed Costs: ‘Releaf’ for the Cannabis Industry,” Tax Notes, April 3, 2023

Author, “No Pennies-on-Dollar Tax Settlements for the Cannabis Industry,” Bloomberg Law, November 10, 2022

Personal

Nick Richards is a father of two young children, a proud husband, a music fan, and he enjoys the outdoors when not fighting for his clients.

Expert in these Jurisdictions

Bar Admissions: Colorado and California

Court Admissions: United States Tax Court

Education

Awards