May 082017
 

A lot has been going on with respect to tax reform. Some tax rates are proposed for adjustment, while some tax exemptions face removal, among other expected changes. One thing that taxpayers can assume to remain constant — the right of the Bureau of Internal Revenue (BIR) to audit them. And the very idea of a “BIR audit” can be the source of much stress.
In the medical context, stress is a physical, mental, or emotional factor that causes bodily or mental tension. Medical studies show that unnecessary worries result in self-inflicted stress. This means that there are instances where we, ourselves, primarily contribute to our own anxieties. Now, how about when we face a BIR audit? How are we supposed to react to specific situations to avoid this self-inflicted stress? You may want to consider the following:

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