DENVER (1/8/16)--Fourth Corner CU has lost its court case challenging the Federal Reserve for the ability to serve legal marijuana-based businesses. The ruling, which came this week, said banks and credit unions would be wise to steer clear of serving the marijuana industry, according to a report in American Banker. Per the report, U.S. District Judge R. Brooke Jackson said financial institutions should wait until Congress steps in and offers them stronger protections to serve the businesses. Both recreational and medicinal marijuana is legal in several states, but remains illegal on the federal level…

WASHINGTON (1/8/16)--The Internal Revenue Service will allow Mississippi storm victims until May 16 to file their tax returns and pay any taxes due, it announced today. Workers assisting relief activities and are affiliated with a recognized government philanthropic organization also qualify for relief. The relief includes 2015 income tax returns normally due on April 18, the Jan. 15 and April 18 deadlines for making quarterly estimated tax payments, Feb. 1 and May 2 deadlines for quarterly payroll and excise tax returns and the special March 1 deadline for farmers and fishermen who choose to forgo making estimated tax payments…