The IRS issued detailed guidance on the employee retention credit, originally created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act…
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Pennsylvania Governor Tom Wolf Signs PPP Loan Forgiveness Measure
by Bowman & Company LLP | Feb 10, 2021 | Construction, Federal Services, For-Profit Entities, Funeral Homes, Government Entities, Not-for-Profits, Professional Services
PA state lawmakers added a provision addressing Paycheck Protection Program (PPP) loan forgiveness to provide COVID-19 relief to small businesses…
New Jersey Follows Federal Lead on Taxability of PPP Loans
by Bowman & Company LLP | Feb 10, 2021 | #COVID-19News, Construction, Federal Services, For-Profit Entities, Funeral Homes, Government Entities, Not-for-Profits, Professional Services
New Jersey will be following the federal government’s lead in making PPP loans tax exempt at the state level and allowing recipients to deduct business…
PPP Application Forms Will Be Released Today
by Bowman & Company LLP | Jan 11, 2021 | #COVID-19News, Construction, Federal Services, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
The US Small Business Administration and Treasury released borrower loan application forms Friday night for the rebooted Paycheck Protection Program…
Many Tax Provisions Appear in Year-End Coronavirus Relief Bill
by Bowman & Company LLP | Dec 29, 2020 | #COVID-19News, Construction, Federal Services, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
The Consolidated Appropriations Act, 2021, signed into law on Dec. 27, includes extensions of various expiring provisions, expansions of certain pandemic..
New Relief Available for NJ Small Businesses Impacted By COVID-19
by Bowman & Company LLP | Oct 26, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Healthcare, Not-for-Profits, Professional Services
Learn how your business may be eligible for direct relief and PPE subsidies, made available to NJ small businesses through additional CARES Act funding.
Guidance Issued on Payroll Tax Deferral
by Bowman & Company LLP | Aug 31, 2020 | #COVID-19News, Construction, Federal Services, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
New notice from the IRS provides guidance for employers wishing to defer withholding and payment of certain payroll taxes for qualifying employee wages.
Beware of a 100% Personal Liability Penalty
by Bowman & Company LLP | Aug 4, 2020 | Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
A “100% penalty” can be assessed against a responsible person when federal income tax and/or federal employment taxes are withheld from employee pay…
PPP Loans: What You Need to Know About the Latest Changes
by Bowman & Company LLP | Jul 27, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
Legislative measures were enacted creating significant changes for small businesses wishing to participate in the Paycheck Protection Program (PPP).
New PPP Loan Forgiveness Applications Released
by Bowman & Company LLP | Jul 8, 2020 | #COVID-19News, Construction, For-Profit Entities, Funeral Homes, Government Entities, Healthcare, Not-for-Profits, Professional Services
In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers…