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

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We’ll look at what organisations will be investigated, what these audits will look like, and respond to some FAQs about the PPP audits. On April 28, Treasury Secretary Steven Mnuchin revealed that any business that receives more than$2 million as a loan will be audited. All loans over $2 million will be completely examined, while spot checks will be performed on smaller sized loans. PPP loan tax audits will be carried out when businesses seek loan forgiveness. The word “audit” can strike worry in even the most orderly business owner, however there’s no factor to fear the PPP audit.

We’ll look at what organisations will be audited, what these audits will look like, and address some FAQs about the PPP audits. PPP loan tax audits will be performed when services look for loan forgiveness. The word “audit” can strike worry in even the most organized company owner, but there’s no reason to fear the PPP audit.

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