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 answer 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 examined. All loans over $2 million will be totally examined, while area checks will be carried out on smaller sized loans. PPP loan tax audits will be performed when companies seek loan forgiveness. The word “audit” can strike fear in even the most orderly service owner, however there’s no factor to fear the PPP audit.

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