blog | Bowman & Company, LLP

A World of Change Starts with a Day of Understanding

Posted by Bowman & Company LLP on Apr 30, 2021 1:46:20 PM
A World of Change Starts with a Day of Understanding
Yesterday marked Bowman & Company LLP’s first annual Day of Understanding. During this virtual event, Bowman’s Managing Partner Michael D. Cesaro held a conversation with all of our Firm’s staff in recognition of the hardships faced by marginalized groups. Mr. Cesaro spoke on unconscious bias, the effects it has on belonging and career outcomes, and what we as individuals can do to mitigate the role it plays in the workplace. This company-wide dialogue is attributable to Bowman’s dedication to the inclusion and advancement of individuals with diverse backgrounds.
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Topics: Speaking Engagements, #BowmanGivesBack, #DiversityandInclusion

The PPP Deadline Extension has been Signed into Law

Posted by AICPA on Apr 1, 2021 3:17:00 PM
The PPP Deadline Extension has been Signed into Law

The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 on Tuesday, March 30, 2021, when President Joe Biden signed the extension into law.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

1040 Tax Filing & Payment Deadlines You Need to Know

Posted by AICPA on Apr 1, 2021 11:50:49 AM
1040 Tax Filing & Payment Deadlines You Need to Know

On March 17, the Internal Revenue Service (IRS) announced the deadline for individuals to file federal taxes would be extended from April 15 to May 17, 2021 (Notice 2021-21). This week, the IRS issued additional guidance on its postponement of the tax deadline for individuals. Like the news release before it, this most recent notice does not extend the April 15 due date for estimated tax payments. To ensure our clients do not miss the deadline for estimated tax payments, we encourage the early submission and preparation of tax returns.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services, #COVID-19News

Tax Day for Individuals Has Been Postponed to May 17th

Posted by AICPA on Mar 18, 2021 1:29:09 PM
Tax Day for Individuals Has Been Postponed to May 17th

The IRS announced on Wednesday that it is postponing the deadline for all individual tax returns. Returns otherwise due April 15 will not have to be filed until May 17 this year. The IRS says it will issue formal guidance in the near future.

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Topics: Professional Services, #COVID-19News

American Rescue Plan Act: Breaking Down the Latest Relief Bill

Posted by AICPA on Mar 12, 2021 9:31:11 AM
American Rescue Plan Act: Breaking Down the Latest Relief Bill

Yesterday, President Joe Biden signed the American Rescue Plan Act into law. This legislation, also known as H.R. 1319, was first passed by the House on February 27. The Senate made several amendments and passed its version of the bill on March 6. The bill then came back to the House for a final vote on Wednesday and was subsequently signed into effect on March 11.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services, #COVID-19News

House Gives Final Approval to $1.9 Trillion Pandemic Aid Bill

Posted by Bowman & Company LLP on Mar 11, 2021 1:51:17 PM
House Gives Final Approval to $1.9 Trillion Pandemic Aid Bill

The House of Representatives voted 220–211 Wednesday to approve the Senate version of a $1.9 trillion coronavirus relief bill, which President Joe Biden is expected to sign into law.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, #COVID-19News

Governments Can Win the War on Fraud (Series Introduction)

Posted by Maryann Holloway, CPA, RMA, PSA & Domonic A. Furfari on Mar 5, 2021 9:15:00 AM
Governments Can Win the War on Fraud (Series Introduction)

Government Fraud Discovered—a headline that no government official, auditor, or taxpayer ever wants to see. Fraud in government exists in many forms and can be perpetrated by a multitude of persons individually or in collusion with others. External entities, engaged with governments through public projects or contracts, may also bring risk of fraudulent activity. Losses vary widely in amounts and can affect governments both on the international stage as well as within your zip code. 

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Topics: Government Entities, Federal Services

IRS Issues Employee Retention Credit Guidance

Posted by AICPA on Mar 4, 2021 2:03:59 PM
IRS Issues Employee Retention Credit Guidance

In Notice 2021-20, the IRS issued detailed guidance for employers claiming the employee retention credit for calendar quarters in 2020. The credit was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L 116-136, and amended by the Consolidated Appropriations Act, 2021, P.L 116-260. The IRS says the guidance in the notice is similar to the information it posted in FAQs last year, but the notice clarifies and describes retroactive changes under the new law that apply to 2020, primarily relating to expanded eligibility for the credit for taxpayers who took Paycheck Protection Program (PPP) loans. The AICPA requested authoritative guidance on the 2020 and 2021 employee retention credits from the IRS in a comment letter sent on Feb. 25.

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Topics: Government Entities, Not-for-Profits, Press Releases, For-Profit Entities, Funeral Homes, Construction, Healthcare, #COVID-19News

Bowman Signs the CEO Action for Diversity & Inclusion Pledge

Posted by Bowman & Company LLP on Mar 1, 2021 1:20:25 PM
Bowman Signs the CEO Action for Diversity & Inclusion Pledge

It is with great honor that we announce Bowman & Company LLP has joined the CEO Action’s pledge to advance diversity & inclusion within the workplace. Bowman’s Managing Partner, Michael D. Cesaro, signed the pledge to strengthen our Firm’s commitment to putting forth infrastructure and actions that help cultivate an eclectic work environment.

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Topics: #DiversityandInclusion

Pennsylvania Governor Tom Wolf Signs PPP Loan Forgiveness Measure

Posted by PICPA on Feb 10, 2021 11:50:35 AM
Pennsylvania Governor Tom Wolf Signs PPP Loan Forgiveness Measure

The PICPA won a major legislative victory when state lawmakers added a provision addressing Paycheck Protection Program (PPP) loan forgiveness to legislation providing COVID-19 relief to Pennsylvania small businesses. Senate Bill 109 was approved unanimously by the state House and Senate and signed by Gov. Tom Wolf. It is now Act 1 of 2021.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Federal Services