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

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We’ll look at what businesses will be investigated, what these audits will look like, and respond to some FAQs about the PPP audits. PPP loan tax audits will be carried out when services seek loan forgiveness. The word “audit” can strike fear in even the most organized company owner, however there’s no reason to fear the PPP audit.

We’ll look at what companies will be examined, 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 examined. All loans over $2 million will be fully investigated, while area checks will be performed on smaller loans. PPP loan tax audits will be performed when services seek loan forgiveness. The word “audit” can strike fear in even the most organized business owner, however there’s no factor to fear the PPP audit.

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