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

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We’ll look at what companies will be audited, what these audits will look like, and respond to some FAQs about the PPP audits. On April 28, Treasury Secretary Steven Mnuchin announced that any service that receives 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 performed when organisations seek loan forgiveness. The word “audit” can strike worry in even the most organized service owner, but there’s no reason to fear the PPP audit.

We’ll look at what services will be audited, what these audits will look like, and answer some FAQs about the PPP audits. PPP loan tax audits will be carried out when companies seek loan forgiveness. The word “audit” can strike fear in even the most orderly business owner, but there’s no reason to fear the PPP audit.

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