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"Paycheck Protection Program Audits Have Started! Be Prepared for Audits, Appeal Process, and Tax Consequences"

December 10, 2020

Article by Juan Vasquez, Jr., Jaime Vasquez, and Victor Viser on "Paycheck Protection Program Audits Have Started! Be Prepared for Audits, Appeal Process, and Tax Consequences"

Bloomberg Tax

The Paycheck Protection Program (PPP) audits have started. In an article in Bloomberg Tax, Chamberlain Hrdlicka's tax attorneys - Juan F. Vasquez, Jr., Jaime Vasquez, and Victor J. Viser outline how borrowers should prepare to substantiate and defend their PPP loan eligibility and forgiveness during the audit and appeal process. They also warn of the potential tax consequences associated with the Small Business Administration’s review/audit and corresponding appeal process. To read the article, click on this link - https://news.bloombergtax.com/daily-tax-report/paycheck-protection-program-audits-have-started-be-prepared-for-audits-appeal-process-and-tax-consequences

Chamberlain Hrdlicka’s Paycheck Protection Program (“PPP”) Audits and Investigations Practice can provide the expertise to advise and assist PPP loan borrowers as they navigate the PPP civil audit and review process and PPP criminal investigations and enforcement process.

Our attorneys have been at the forefront of the PPP since it was created and as it has evolved by assisting clients with all aspects of the PPP application and review process, writing articles and providing expert interviews for industry-leading publications, creating and presenting educational seminars for a national audience, and engaging in the ongoing legislative process. 

We can proactively assist clients to determine risk, ensure compliance, and provide review/audit defense and other support for potential investigations.  If you have questions or concerns regarding the statements or certifications made in your PPP loan application, or if civil or criminal enforcement actions have already been initiated, our nationally renowned attorneys can provide an immediate, thorough, and effective defense for you and your business.