Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000.
Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000.
Bowman & Company LLP is pleased to announce the election of Stefanie J. DeSantis, CPA, RMA, PSA, CGMA to Partner, effective July 1, 2021.
Bowman & Company LLP is pleased to announce the election of Jennifer L. Bertino, CPA, RMA, PSA to Partner, effective July 1, 2021.
This June, retired Bowman partner and consultant John "Jack" F. Dailey, Jr. received the New Jersey Society of Public Accountants' (NJCPA) 2021 Lifetime Leader award.
In our introduction to this series, we wrote that the war on government fraud starts with the five components of internal control known as the Committee of Sponsoring Organizations (COSO) framework. Internal controls are the foundation every government needs to ensure fraud can be detected and prevented, internally and externally. This article will continue the discussion by highlighting areas in which every government should apply this framework.
Topics: Government Entities, Federal Services
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.
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.
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.
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.
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.
Topics: Government Entities, Federal Services