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

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We’ll look at what businesses 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 announced that any service that gets more than$2 million as a loan will be audited. All loans over $2 million will be completely investigated, while area checks will be performed on smaller sized loans. PPP loan tax audits will be performed when services seek loan forgiveness. The word “audit” can strike fear in even the most organized organisation owner, but there’s no reason to fear the PPP audit.

We’ll look at what companies will be examined, what these audits will look like, and address some FAQs about the PPP audits. PPP loan tax audits will be performed 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.

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