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PPP Loan Audits Could Affect Millions of Borrowers | JD Supra
JD Supra· 1 week agoPPP Loans with balances of less than $100,000 to the Treasury Department for collection, and another 10,000 delinquent PPP Loans involving higher balances ...
Illinois quick hits: 275 cases of PPP wrongdoing found; measure prohibits taxing the dead
The Center Square· 2 weeks agoThe OEIG has concluded of 325 PPP cases, 275 resulted in findings of wrongdoing. The OEIG has...
Top 10 Insights from the SBA’s PPP Loan Forgiveness Application
The National Law Review· 2 weeks agoOn May 15, 2020, the SBA issued its Paycheck Protection Program (PPP) Loan Forgiveness Application (available here). While the term of the “Covered Period ...
Judge sentences Deepwater, Mo., man for $500,000 in CARES Act fraud
KY3 Springfield· 13 hours agoA judge sentenced a Deepwater, Mo., man in federal court for fraudulently obtaining more than $500,000 in Paycheck Protection Program (PPP) loans under the Coronavirus Aid ...
If You File a Schedule C, Take Note: SBA Offers Guidance for Self-Employed PPP Loan Applicants
The National Law Review· 2 weeks agoThe average PPP loan amount so far has been $239,000, though the vast majority of approved loans (70%) have been for $150,000 or less. Lenders have felt ...
Brevard political consultant, Space Coast Rocket owner, arrested for alleged PPP loan fraud
Florida Today via Yahoo Finance· 7 days agoProsecutors say Burns misrepresented his income and submitted false tax documents on loan...
Objections to student debt relief expose GOP hypocrisy
Las Vegas Sun· 2 days agoThe political world is in an uproar over President Joe Biden’s dispensing of student debt relief....
Federal Emergency Relief Risk Mitigation: The Paycheck Protection Program
The National Law Review· 2 weeks agoSecretary Mnuchin announced that the Small Business Association would be conducting a “full audit” of any loans over $2 million made pursuant to the Paycheck Protection Program (“PPP ...
Numerous Areas of Tax Relief for Businesses Provided in the 2021 Consolidated Appropriations Act
The National Law Review· 2 weeks agoThe combined effect of these Acts is to offer clarification on various tax...
IRS Confirms PPP-Funded Expenses Are Non-Deductible
The National Law Review· 6 days agoLiterally tens of thousands of businesses received Paycheck Protection Program (PPP) loans under the CARES Act. The legislation was passed very quickly to avert a potential ...