PPP Loans & Tax Audits: What Your Business Needs To Know

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We’ll look at what services will be investigated, what these audits will look like, and address some FAQs about the PPP audits. On April 28, Treasury Secretary Steven Mnuchin announced that any organisation that gets more than$2 million as a loan will be audited. All loans over $2 million will be totally examined, while area checks will be performed on smaller loans. PPP loan tax audits will be carried out when businesses look for loan forgiveness. The word “audit” can strike fear in even the most organized organisation owner, however there’s no factor to fear the PPP audit.

We’ll look at what businesses will be audited, what these audits will look like, and answer some FAQs about the PPP audits. PPP loan tax audits will be performed when organisations seek loan forgiveness. The word “audit” can strike fear in even the most orderly company owner, however there’s no factor to fear the PPP audit.

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