14 Has your cousin considered filing for the Streamlined Domestic Offshore Procedures? With a foreign partner involved, there might be international reporting requirements they've missed too. When I had a similar situation with my small business that had a foreign partner, we had to deal with FBAR filings and other international information reporting requirements. The foreign partner should also check if they have any US tax filing requirements based on their interest in a US LLC, even if they've never been to the US.

This is a complex situation that requires immediate attention. Your cousin is looking at significant penalties - potentially over $25,000 just for the unfiled 1065s alone ($210 per month per partner for up to 12 months, multiplied by 10 years). Here's what I'd recommend: 1. **Get professional help immediately** - Find a tax attorney or CPA who specializes in partnership taxation and penalty abatement. The foreign partner aspect adds layers of complexity with potential withholding requirements. 2. **File all delinquent returns first** - Don't wait for penalty notices. Filing shows good faith effort to comply. 3. **Reasonable cause strategy** - For penalty abatement, your cousin will need to demonstrate reasonable cause for each unfiled year. Common arguments include: reliance on professional advice, serious illness, inability to obtain records, or other circumstances beyond their control. 4. **Consider installment agreements** - Even with abatement, there may still be substantial penalties. The IRS offers payment plans for situations like this. 5. **Foreign partner compliance** - The German partner likely has US tax obligations too and may need to file their own returns. The key is acting quickly and having a comprehensive strategy. Each day of delay potentially increases penalties. A qualified professional can help navigate the penalty abatement process and potentially save thousands in penalties.

When calling the agency on the 1099-G, ask them specifically about the "payer" section. Sometimes states issue these for things besides unemployment - like lottery winnings, state incentives, or special programs. My mom got one for a state energy rebate program she participated in and was freaking out thinking it was fraud.

Just to add another perspective - before jumping to identity theft conclusions, double-check if you received any state-level benefits or refunds in 2023 that you might have forgotten about. I got a 1099-G last year that turned out to be for a property tax rebate my state issued to homeowners. The key is looking at Box 1 (which shows the amount) and Box 2 (which shows any federal taxes withheld). If there's an amount in Box 1 but you're certain you never received that money, then yes, it's likely fraudulent unemployment benefits filed in your name. Also worth noting - if this IS unemployment fraud, don't wait to address it. The fraudsters often file tax returns quickly to claim refunds on the stolen benefits, which can complicate your own tax filing if the IRS already has a return on file for you.

Just a quick heads up that isn't getting enough attention: Make sure you understand how your RSUs and ISOs affect your cost basis reporting! This bit me hard last year. The W-2c will show the correct income amount, but your 1099-B from your broker likely WON'T have the correct cost basis. You need to manually adjust this on your Schedule D and Form 8949 or you'll end up paying double tax on the RSU income.

This is such a common and frustrating situation! I went through something similar two years ago with my company's delayed W-2c process. One thing that really helped me was being persistent but professional with HR/payroll. I sent a follow-up email every week documenting my request and the potential penalties I was facing. I also mentioned that I was working with a tax professional who needed the information by a specific date to avoid filing extensions. Another strategy that worked: I asked if they could provide me with a written estimate of the corrections even if the official W-2c wasn't ready. Many payroll systems can generate this information quickly - it's the formal filing process that takes time. Having those numbers let me work with my tax preparer to get everything ready. Also, definitely keep detailed records of all your RSU vesting dates and sale transactions. Your brokerage statements combined with your company's equity portal should give you most of the information you need to estimate the corrections yourself if push comes to shove. The key is being proactive and documenting everything. The IRS is generally understanding when you can show you made good faith efforts to obtain correct information from your employer. Don't let your company's inefficiency become your tax problem!

Be careful about relying too heavily on these patterns. According to the IRS.gov website, system maintenance can disrupt the normal update schedule. I once waited an entire weekend because an update that should have happened Thursday night was delayed until Monday due to "system improvements." The IRS doesn't always announce these maintenance periods in advance. I recommend checking the IRS operational status page before assuming there's an issue with your specific return.

This is really helpful information about the update cycles. I'm curious though - does anyone know if amended returns follow the same update patterns? I filed an amendment in February and I'm trying to figure out if I should be looking for updates on the same schedule or if amended returns are processed on a different cycle entirely.

I had cycle code 20240505 on my transcript last month. My account updated exactly on February 1st (Thursday night/Friday morning). Then again on February 8th. My direct deposit hit my account on February 14th. The Thursday cycle pattern held true throughout the entire process. I've been tracking this for years and the cycle day is remarkably consistent - it's one of the few reliable patterns in the otherwise unpredictable IRS process.

I can confirm the cycle code pattern from personal experience. Had 20240505 last year and tracked updates religiously - my transcript updated every Thursday night/Friday morning like clockwork for 8 weeks straight. The pattern was so consistent that I eventually stopped checking daily and just looked Friday mornings. One thing to add: while your main updates will follow the Thursday cycle, don't panic if you occasionally see small adjustments on other days. The big movements (like refund approval, direct deposit dates) almost always happen on your cycle day. Also, if you're in review or have any issues, those resolution updates typically still follow your cycle pattern too. The IRS may not officially document this for the public, but their internal batch processing absolutely runs on weekly cycles. Your 20240505 puts you in the Thursday group, so mark your calendar and save yourself the daily stress!