The rapid spread of COVID-19 has created more than a health crisis. The “stay home” directive that quickly spread across the country is creating a financial emergency for many businesses. And, as we continue to self-isolate, businesses need to find a way to minimize the impact.
As the days and weeks have progressed since Governor Cuomo’s orders for social distancing, Boris Benic and Associates continues to work separately, but with a unified purpose: supporting our clients through a most unusual situation.
Although the CARES Act (ACT) covers many areas, I would like to share very important provisions where you may need to take immediate action.
Last week, our team began working remotely under the governor’s orders for social distancing. This week, we’re pleased to give you an update on operations at Boris Benic and Associates LLP. We also have some important tax news you’ll need during this time.
When it comes to filing taxes, an audit is arguably the worst-case scenario of the entire process. While there are ways to avoid getting audited, sometimes an audit is unavoidable. If you do find yourself on the receiving end of an IRS audit, consider these important steps:
Tax Day is still a few months away. That has many Americans nervous about the dreaded “A” word. Although the word “audit” fosters anxiety for many, the chances of being audited are low for most Americans. However, you can still reduce those odds. Here are five ways to avoid getting on the IRS’ radar: