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

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We’ll look at what companies will be examined, 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 business that receives more than$2 million as a loan will be examined. All loans over $2 million will be totally investigated, while spot checks will be performed on smaller sized loans. PPP loan tax audits will be performed when organisations seek loan forgiveness. The word “audit” can strike fear in even the most orderly organisation owner, but there’s no factor to fear the PPP audit.

We’ll look at what organisations will be investigated, what these audits will look like, and respond to some FAQs about the PPP audits. PPP loan tax audits will be performed when companies look for loan forgiveness. The word “audit” can strike worry in even the most organized service owner, but there’s no reason to fear the PPP audit.

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