(301) 986-0600
Submit RFP Bill Pay

CBM Communicator

March 31, 2021

PPP Application Deadline Extended

President Biden has signed the PPP Extension Act of 2021. The new law extends the Paycheck Protection Program (PPP) application filing deadline from March 31, 2021, to May 31, 2021, thus providing potential PPP borrowers additional time to submit their applications. The law doesn’t provide the PPP with any additional funding. However, $7.25 billion in additional funding was recently provided in the American Rescue Plan Act. PPP basics The PPP was established in March 2020 by the CARES Act. The… Read more ›

March 25, 2021

Make the Most of the Employee Retention Credit

The Employee Retention Credit (ERC), which was created to encourage employers to keep their workforces intact during the COVID-19 pandemic, has been with us for a year. But questions about it remain for many employers. With the new American Rescue Plan Act (ARPA) extending the credit and expanding eligibility — and the credit worth as much as $28,000 per employee for 2021 — employers should brush up on the details. Credit history The CARES Act, which was enacted in March… Read more ›

March 23, 2021

Celebrating Edna Nick (In Honor of Women’s History Month)

In honor of Women’s History Month, Councilor, Buchanan & Mitchell, P.C. is proud to celebrate Edna Nick, the first of several women who continue to serve as equity partners in our 100-year history. Edna Nick was the first woman to pass the CPA examination in the Commonwealth of Virginia and, after becoming certified, she would go on to work at Councilor, Buchanan & Mitchell for 51 years and become the firm’s first equity woman partner. Although women were a minority… Read more ›

March 20, 2021

Not-for-Profits Take Note: Maryland Announces Sales and Use Tax for Digital Products

Not-for-profits including trade and membership associations that charge for digital product sales should take note of the new sales and use tax on digital products passed by the Maryland General Assembly on March 14, 2021. The new law extends the existing 6% sales and use tax to digital goods. A tax tip published by the State of Maryland addresses the impact on not-for-profit organizations in this manner: There is no general exemption for all sales made by exempt organizations under… Read more ›

March 18, 2021

IRS Extends Federal Tax Deadline to May 17

The IRS has announced that the federal tax filing deadline will be extended this year from Thursday, April 15 to Monday, May 17, 2021. New legislation that passed recently, which provides economic, tax and other relief from the pandemic, has created a complex tax filing season for individuals, businesses and tax preparers, leading to the extended deadline. The extension does not impact all tax deadlines, however. First-quarter estimated tax payments are still due April 15. Deadlines for state tax returns… Read more ›