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 company that receives more than$2 million as a loan will be investigated. All loans over $2 million will be totally audited, while area checks will be carried out on smaller loans. PPP loan tax audits will be carried out when companies look for loan forgiveness. The word “audit” can strike fear in even the most orderly 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 address some FAQs about the PPP audits. PPP loan tax audits will be carried out when services look for loan forgiveness. The word “audit” can strike worry in even the most orderly company owner, however there’s no reason to fear the PPP audit.

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