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

thumbnail

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

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top