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IRS Actively Seeking SBA PPP Criminal Fraud

SBA PPP Audit Criteria

What criteria will the SBA use to flag loan recipients for audit? 

The IRS has formed a Fraud Enforcement Department specifically to root out fraud and criminal activity around the SBA PPP loan funds.

The IRS Fraud Enforcement Department will be targeting companies who received the PPP funds but may have since filed taxes reporting different numbers than were listed on their application for the government loan.

If your business received PPP funds and has outstanding payroll taxes owed, for whatever reason, perhaps you simply couldn’t pay, reach out to a tax attorney today. There’s still time to resolve any discrepancies before IRS flags your SBA loan for audit or criminal investigation. Coming forward to resolve back taxes before an audit is a much stronger position than waiting to be flagged for audit.

Click here for more information on updates to the SBA forgiveness criteria, filing your 2020 taxes when you have received SBA or EIDL funds, and criminal tax exposure, .

Founder, John Milikowsky explains SBA PPP Loan criteria and audit risk.