Month: April 2025

Categories
Tax

IRS Update: Key Tax Extension Guidance for Disaster-Affected Businesses

By Mark Puckett, CPA | Tax Principal 

The IRS reminds taxpayers affected by 2024 federally declared disasters that they automatically receive extended deadlines to file and pay 2024 federal income taxes. In most cases, the new deadline is May 1, 2025. Additional relief applies in select areas and for individuals impacted by international events. 

 

Key Highlights 

  • May 1, 2025, is the new deadline for most affected taxpayers 
  • Applies automatically—no need to request relief 
  • Further extensions: Oct. 15 and Nov. 3 in certain states, Sept. 30 for international cases 
  • Tax payments are still due by May 1, even if filing is delayed 

 

Who Qualifies for the May 1 Deadline? 

The May 1, 2025, deadline applies to taxpayers in areas covered by 2024 FEMA disaster declarations, including: 

  • Entire states: Alabama, Florida, Georgia, North Carolina, South Carolina 
  • Localities in: Alaska (Juneau), New Mexico (Chaves County), Tennessee (refer to detailed list), Virginia (refer to detailed list) 

The full list is here.   

 

What’s Covered Under the Extension 

Automatic relief includes: 

  • 2024 individual tax returns and payments (normally due April 15) 
  • Partnership and S Corporation returns (normally due March 17) 
  • Corporate and fiduciary returns and payments (normally due April 15) 
  • Quarterly estimated taxes (normally due April 15) 
  • Other time-sensitive filings as designated by the IRS  

No action is needed if your IRS address is in an affected area.  

 

Need More Time to File? 

To file beyond May 1, submit Form 4868: 

  • Electronically if before April 15 
  • On paper if between April 15 and May 1 

This extends the filing deadline to October 15, 2025, but does not extend the payment deadline—taxes must still be paid by May 1. 

 

Extended Relief: Other Deadlines 

Some areas have later deadlines: 

  • Oct. 15, 2025 – Los Angeles County, CA (January wildfires) 
  • Nov. 3, 2025 – All of Kentucky and parts of West Virginia 
  • Sept. 30, 2025 – U.S. taxpayers affected by 2023 terrorist attacks in Israel, Gaza, and the West Bank 

 

Additional Notes 

  • Penalty relief is automatic, but call the IRS if you get a notice in error 
  • Taxpayers outside the disaster area with records inside it can request relief: 866-562-5227 
  • Workers aiding disaster recovery may also qualify 
  • Disaster losses can be claimed on either the current or prior year’s return (see Publication 547) 

 

Need More Help? Contact your ATA tax advisor or visit IRS Disaster Relief Center
 

Categories
Cybersecurity

Ransomware on the Rise: What Businesses Must Do to Stay Protected

By Jon Joyner, Cybersecurity Practice Leader 

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Executive Summary 

As trade tensions deepen, regulatory agencies shrink, and global political instability continues, cyber threats are expected to escalate—particularly ransomware attacks. With fewer oversight mechanisms, more vulnerable infrastructure, and increasingly sophisticated cybercriminal tactics, the environment is ripe for exploitation. Businesses must act now to protect their operations, data, and reputations. This article outlines the critical steps every organization should take to prepare for a surge in ransomware activity. 

 

Key Highlights 

  • Ransomware threats are increasing, driven by global instability and weakened regulation 
  • Preparation is critical: businesses must focus on recovery, detection, and user awareness 
  • Resilience is not just IT’s responsibility—it’s a strategic business priority 

 

  1. Ensure Backup and Recovery Systems Are Bulletproof

The most effective defense against ransomware is the ability to recover quickly without paying. Businesses should: 

  • Maintain secure backups both offline and in the cloud 
  • Encrypt and regularly test backup systems for data integrity 
  • Store backups separately from main systems to avoid simultaneous compromise 

Unrecoverable data is a business risk, not just a technical issue. 

 

  1. Enforce Multi-Factor Authentication (MFA)

Credential theft remains a common entry point for ransomware. Enabling multi-factor authentication across all accounts—especially those with privileged access—is a low-cost, high-impact way to stop unauthorized intrusions. 

 

  1. Lock Down Endpoints

Every connected device is a potential vulnerability. Companies must: 

  • Deploy endpoint detection and response (EDR) software 
  • Keep systems and applications patched and up to date 
  • Limit admin privileges to only those who absolutely need them 

This is especially vital for businesses with hybrid or remote teams. 

 

  1. Train Employees to Spot Red Flags

Ransomware often arrives via social engineering tactics like phishing. Regular, practical training can dramatically reduce the odds of a successful attack. Employees should know how to: 

  • Identify suspicious emails, links, and attachments 
  • Report threats immediately 
  • Avoid common traps in daily workflows 

 Security awareness is part of everyone’s job. 

 

  1. Build and Test an Incident Response Plan

Speed matters when a ransomware event occurs. Your business should have a clear, actionable response plan that includes: 

  • Internal communication protocols 
  • Steps for isolating infected systems 
  • External contacts (cyber insurers, legal counsel, law enforcement) 
  • Recovery and notification procedures 

 Practice makes preparedness real—rehearse your plan regularly. 

 

Conclusion: Resilience Is a Business Advantage 

Ransomware threats will only grow in a landscape marked by uncertainty, weakened regulation, and geopolitical strain. Businesses that act now—by strengthening defenses, educating teams, and preparing for the worst—will be better equipped to minimize disruption and protect long-term value. 

Cybersecurity isn’t just an IT concern. It’s a strategic, operational, and reputational issue that leaders must own. 

ATA can help.  Learn how we can help ensure your business is protected against IT risk.  Contact us to schedule a complimentary 30-minute consultation. 

Categories
Human Resources

Leading Through Uncertainty: HR Priorities for a Resilient Workforce

By Traci Tyler, HR Advisory Practice Leader 

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Executive Summary 

In times of economic and operational uncertainty, HR plays a critical role in helping organizations stay steady, agile, and focused. Whether the pressure is coming from market shifts, policy changes, or internal disruptions, strong people strategies can make the difference between resilience and reactivity. This guide outlines the most important HR considerations for navigating uncertain conditions while preserving trust, culture, and employee engagement. 

 

Key Highlights 

  • Prioritize the roles and people that drive your business forward—and plan around them 
  • Keep communication open and human—employees trust leaders who speak with clarity and care 
  • Don’t lose sight of culture, morale, and flexibility—these are your retention superpowers 

 

HR Considerations in Uncertain Times 

  1. Focus Workforce Planning on Business-Critical Roles

In periods of volatility, clarity around team structure is essential. Identify which roles are mission-critical and make informed decisions about where to pause hiring, consolidate responsibilities, or realign resources. Workforce planning should be a continuous process, not a one-time response.  

 

  1. Prepare for “What If” Scenarios

Uncertainty demands optionality. Create simple contingency plans tied to different outcomes such as revenue fluctuations, operational disruptions, or regulatory changes. For each, define the likely talent impacts, so your response can be measured, not rushed.  

 

  1. Communicate Honestly and Frequently

Silence breeds fear. Frequent and transparent communication from leadership builds confidence, even if the message is: “We’re still figuring things out.” Employees want to understand what’s happening, what to expect, and how they’ll be supported. 

Clarity and empathy are more valuable than certainty. 

 

  1. Keep Performance Aligned to Priorities

As business priorities shift, so should performance expectations. Revisit goals with each team to make sure time and energy are being invested where they matter most. Address misalignment early, and spotlight contributions that drive results or reinforce values. 

Performance management should be both firm and fair.  

 

  1. Retain Your Core Team

Retaining key contributors is more important than ever during uncertainty. If compensation budgets are tight, look to other motivators—flexibility, recognition, purpose, and stretch opportunities. High performers want to feel seen, trusted, and challenged—not just paid. 

 

  1. Upskill from Within

Hiring may slow, but business needs won’t. Use this time to strengthen internal capabilities through upskilling, mentoring, and cross-training. Offer access to learning resources, encourage peer-to-peer knowledge sharing, and create development paths aligned with emerging needs. This approach builds loyalty and readiness at once. 

 

  1. Protect Your Culture

Even in challenging times—especially in challenging times—culture is what holds teams together. Reinforce values in meetings, communications, and leadership actions. Continue team rituals, celebrate small wins, and encourage connection. A strong culture helps people feel anchored amid change.  

 

  1. Stay Compliant and Document Decisions

Uncertainty can create legal risk if changes to staffing, compensation, or policy aren’t carefully executed. Ensure your decisions are: 

  • Consistent with labor laws and internal policies 
  • Clearly documented and communicated 
  • Reviewed by HR or legal advisors when possible 

Good intentions must be matched by good process. 

 

  1. Support and Equip People Managers

Managers are on the front lines of uncertainty. Equip them with the tools and confidence to guide their teams through tough conversations, shifting priorities, or emotional stress. Brief them regularly, share talking points, and make space for feedback loops. 

When managers lead with clarity and care, employees feel more secure. 

 

Conclusion: Resilience Starts with People 

Every period of uncertainty is a test of leadership, culture, and clarity. The organizations that come through stronger are those that center their people—through planning, transparency, and support. HR doesn’t just help manage change; it helps shape how change is experienced, understood, and ultimately overcome.   

 

We are here to help.  Schedule a 30 minute complimentary consultation with me by filling out our contact form.

Categories
News

Strength in Volatility: Building Financial Resilience in Shifting Markets

By Rick Schreiber, Advisory Practice Leader 

Executive Summary

As economic instability becomes the norm—driven by shifting policies, global disruptions, and recession concerns—small and mid-size businesses must prioritize financial resilience. This article outlines practical strategies to help companies navigate uncertainty, protect profitability, and position themselves for long-term success. From proactive budgeting and cash flow management to customer retention and expert financial guidance, these approaches offer a clear roadmap to thrive in turbulent times. 

Key Highlights 

  • Adaptability is essential: Businesses must continually reassess budgets, cash flow, and operations to respond to changing conditions. 
  • Diversification reduces risk: Spreading revenue sources and investments strengthens stability. 
  • Strong relationships matter: Loyal customers and trusted advisors are key assets during periods of volatility. 

Breaking it Down: How to Thrive Amid Uncertainty 

Reevaluate and Adapt Your Budget 

When the economy shifts, your budget should shift with it. Review it regularly to focus spending on essentials and growth drivers. Cut back where possible without compromising quality and reallocate funds to areas that enhance efficiency or open new revenue opportunities. 

Manage Cash Flow with Precision 

Cash flow is the most accurate snapshot of your financial health. Maintain visibility into your inflows and outflows and use forecasting tools to anticipate changes. Look for ways to balance or diversify revenue streams, reducing dependency on a single client or market. 

Build a Financial Cushion 

A well-maintained emergency fund can be the difference between resilience and regression. Regularly contribute a portion of profits to a reserve fund that can sustain operations through lean periods or unexpected disruptions. 

Improve Operational Efficiency 

Lean operations lead to stronger margins. Audit internal processes, identify inefficiencies, and explore automation where possible. Even modest gains in productivity can translate into meaningful savings and improved agility. 

Diversify for Stability 

Whether it’s exploring new customer segments or investing in different markets, diversification is your buffer against downturns. It spreads risk and opens doors to alternative paths for growth. 

Deepen Customer Relationships 

Customers who feel valued are more likely to stick with you, even during economic uncertainty. Focus on personalization, service quality, and communication. Build loyalty programs or referral incentives to strengthen retention and brand advocacy. 

Stay Informed and Stay Flexible 

Monitor market trends, policy shifts, and consumer behaviors. Use this knowledge to adjust your pricing, shift focus, or reconfigure your business model. Businesses that adapt quickly are better positioned to seize opportunities and avoid pitfalls. 

Partner with Financial Experts 

Don’t do it alone. Firms like  ATA  can provide tailored strategies in areas such as budgeting, tax planning, and financial forecasting. Expert guidance helps you make decisions with confidence and clarity. 

Conclusion: Turn Uncertainty into Opportunity 

While economic challenges are inevitable, they also create space for innovation, efficiency, and strategic growth. By focusing on adaptability, financial discipline, and meaningful relationships, your business can not only withstand disruption—but emerge stronger because of it. 

 Looking for guidance on navigating financial resilience? Schedule a 30 minute complimentary consultation with me by filling out our contact form.