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

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We’ll look at what companies will be investigated, what these audits will look like, and address some FAQs about the PPP audits. On April 28, Treasury Secretary Steven Mnuchin announced that any business that receives more than$2 million as a loan will be audited. All loans over $2 million will be totally investigated, while area checks will be performed on smaller sized loans. PPP loan tax audits will be carried out when services seek loan forgiveness. The word “audit” can strike fear in even the most orderly organisation owner, but there’s no reason to fear the PPP audit.

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