Previous News for category: PPP Loans
Navigating the ERC Program Under IRS Scrutiny
In the wake of unprecedented economic upheaval spurred by the pandemic, businesses sought refuge in government aid programs like the Employee Retention Credit (ERC). However, what began as a beacon of hope soon became a labyrinth of compliance challenges, with the IRS ramping up efforts to scrutinize claims. At Candice […]
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About The U.S. Crackdown on Ineligible Industries for PPP Loans
In the aftermath of the COVID-19 pandemic, the U.S. government implemented several financial aid programs, such as the Paycheck Protection Program (PPP), to support struggling businesses. However, not all industries qualify for such aid, and the federal government has intensified its efforts to prevent and penalize fraud among ineligible industries. […]
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What are the Charges for PPP Loan Fraud?
In the tumultuous wake of the COVID-19 pandemic, the Paycheck Protection Program (PPP) emerged as a beacon of hope for businesses teetering on the brink of collapse. Designed to provide crucial financial support, the PPP aimed to keep the heartbeat of the American economy—its small businesses—alive during unprecedented times. Yet, […]
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When Can the DOJ File Charges for PPP Loan Fraud?
PPP Loan Fraud has become a focal point for the Department of Justice (DOJ) in ensuring that the funds allocated for aiding businesses during the COVID-19 pandemic are not misappropriated. The DOJ is vigilant in identifying and prosecuting fraudulent activities related to these loans. Here’s an insight into the circumstances […]
[ Read More ]PAYCHECK PROTECTION PROGRAM FRAUD BECOMES A GROWING CONCERN
Many business owners are hoping for more government relief in 2021 due to the ongoing coronavirus pandemic and resulting economic downturn. However, the Small Business Administration is concerned about potential fraud in the second round of the Paycheck Protection Program (PPP) loans. Last year, the SBA reports that 57,000 potentially […]
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