blog | Bowman & Company, LLP | Professional Services

NJCPA Names Bowman Partner Harry P. Wills III, CPA, CGMA President

Posted by Bowman & Company LLP on Jun 4, 2021 2:38:26 PM
NJCPA Names Bowman Partner Harry P. Wills III, CPA, CGMA President

On Tuesday, June 1st, the New Jersey Society of Certified Public Accountants (NJCPA) announced that Harry P. Wills III, CPA, CGMA will serve as President of the NJCPA Board of Trustees for the 2021/2022 term. It is with great honor that we congratulate Harry on his new leadership role!

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Topics: For-Profit Entities, Events, Professional Services

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

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

New Jersey Follows Federal Lead on Taxability of PPP Loans

Posted by NJCPA on Feb 10, 2021 10:08:40 AM
New Jersey Follows Federal Lead on Taxability of PPP Loans

Yesterday, New Jersey Governor Phil Murphy and  State Treasurer Elizabeth Maher Muoio announced that New Jersey will follow the federal government's lead in making PPP loans tax exempt at the state level and allowing recipients to deduct business expenses that were paid with the loan proceeds.

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

PPP Application Forms Will Be Released Today

Posted by AICPA on Jan 11, 2021 11:16:39 AM
PPP Application Forms Will Be Released Today

The US Small Business Administration and Treasury released borrower loan application forms Friday night for the rebooted Paycheck Protection Program (PPP), which will launch today, January 11, 2021. The application will Initially be available for select lenders and borrowers before a broader opening takes place a few days later.

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

Many Tax Provisions Appear in Year-End Coronavirus Relief Bill

Posted by AICPA on Dec 29, 2020 4:09:27 PM
Many Tax Provisions Appear in Year-End Coronavirus Relief Bill

The omnibus spending and coronavirus relief bill passed by Congress includes many tax provisions, including the extension of various expiring provisions, extensions and expansions of certain earlier pandemic tax relief provisions, and much more. The Consolidated Appropriations Act, 2021, H.R. 133, passed both houses of Congress on Dec. 21, and President Donald Trump signed the bill into law on Dec. 27.

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