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"The only way to keep your health is to eat what you don't want, drink what you don't like and do what you'd rather not."

It has nothing to do with the IRS, it has to do with how lazy the programmers are. These different types of income must be handled differently, which I guess is sort of an IRS requirement.

I agree. Amending doesn't affect the taxable outcome. Make an adjustment for the basis going forward. It's not as complicated as it seems. I see basis changing often, but not percentage of ownership. The percentage of ownership from the agreement is what determines the taxable income or loss.

I agree. Go forward with correct numbers for 2022.

Thank you!! Definitely no advice then!! And this is her 3rd child so - I think she would easily qualify for Marketplace and maybe even a form of low-income health ins D /WI

Amen to this and I cannot wait for ERC recipients to realize the company that charged them 25% to get the credit DID NOT amend the business tax returns. @schirallicpa charge them another 25% to amend it

I would just adjust the basis worksheet. In Drake there lines for other increase and other decreases.

I limit to some sort of written format when asking for or giving assistance. Verbal assistance has no audit trail and no "standing" if relied on or challenged. For a phone call, you may as well be talking to anyone you randomly dial (unless there is something direct the person can do for you such as send a document).

You need a signed response letter from your client. This is the online equivalent of faxing in a signed response letter plus attachments. At first, I asked myself, "Is this an improvement?" After thinking about it,"Yes it is because the uploaded file is cross referenced with a business name, an EIN and a letter number." Previously an IRS employee would have entered that information manually. Moving forward one step at a time

For the most part, I've always been happy with interactions with IRS employees. I find them much more helpful than companies that send your calls to India. I hung up on a call to Comcast recently as the language barrier was too much for them to even understand what I was asking.

What a sad state of affairs when a government employee doing their job is something we take notice of because it is so unusual... Tom Longview, TX

Would not touch professionally or personally (as personal actions often bite us professionally). --- The anchor baby can likely qualify for some sort of insurance, depending on locality. Terribly tough moral dilemma for sure. Easy to fall in line with the laws of the land. Tougher to live and let live. While higher in consequence, no different than ignore/report of: unlicensed business, neighbors breaking CCR's or local ordinances, etc. I hear the cost of documents is nearly unchanged since the 80's.

Run! If you offer advice on this at all it could constitute beyond tax advice into legal advice, and you definitely don't want that kind of risk exposure. I doubt your E&O or malpractice insurance would cover you. No matter the attractiveness of fees or having off-season additional work, imho this client is NOT worth the risk.

I'd run. Having compassion for their plight, nevertheless I'd still run). Even if it is possible to form an LLC in Mexico, there will likely be legal complications and reporting. In the end, when it blows up, all fingers will point back to you since you provided the advice (even if you didn't, you'll probably still be blamed).

This is one of the more interesting aspects of our society. There are millions of employees in this country working with fake ID and invalid social security numbers. Both our federal and state governments happily accept the taxes withheld from these paychecks and employers suffer little or no penalty. Who do you think, picks our fruit and vegetables, works in our meatpacking plants, cleans our hotel rooms, and maintains our yards? Very few Americans will do this work.

"The Colorado Department of Health Care Policy & Financing (HCPF) is alerting more than four million individuals of a data breach that impacted their personal and health information. Colorado HCPF is a state government agency that manages the Health First Colorado (Medicaid) and Child Health Plan Plus programs, and provides support for low-income families, the elderly, and citizens with disabilities. The data breach was possible after Clop ransomware exploited the MOVEit Transfer zero-day (CVE-2023-34362) in a hacking campaign that impacted hundreds of organizations worldwide. HCPF clarifies that while their systems weren't directly compromised, the data exposure occurred through IBM, their contractor, which utilized the MOVEit software. The investigation revealed that the threat actors managed to access and likely exfiltrated files that contained certain Health First Colorado and CHP+ members' information, including: Full names Social Security Numbers (SSNs) Medicaid ID number Medicare ID number Date of Birth Home address Contact information Income information Demographic data Clinical data (diagnosis, lab results, treatment, medication) Health insurance information." Now it's 6 weeks later and they're just getting around to acknowledging the breach and notifying 4 million people.

Times are different. Was not that long ago the US PAID for legal citizens to return to their home location via the "Repatriation" Act (because of brown fear, repeated at internment camps for another set of legal residents/citizens just a few years later). My grandfather and uncle returned to PI under this act, and died/was murdered a few years later, Dec '41 (private citizens). My grandfather had committed the sin of marrying a pretty white nurse and had babies. He legally came to the US as a "houseboy" to the wife of an Army officer stationed in PI. Another relative was conscripted off the reservation to fight for the Confederacy.