A new client who started his business, in 2019 didn't claim $ 20,000 on his 2020 tax return, cause his income was $40,000 and his expenses were $60,000, he was afraid that this will raise a flag.
So what's the best solution for his situation.
By the way I asked the other group and I didn't get a response.
THANKS IN ADVANCE
"just wanna mention that he came from a country where every one is guilty, unless you have a proof you're not"
But he signed the 2019 return, knowing it was incomplete. He's proving himself to be guilty. That's why you Amend it = make the correction and file with all the applicable data.
A business loss sometimes happens. In the IRS literature, you can read about this. Read about "hobby or business."
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