PPP Loan Audit Services
The US Treasury and Small Business Administration (SBA) have announced an official campaign to investigate recipients of Paycheck Protection Program (PPP) loans. Treasury Secretary Mnuchin has stated that the SBA’s Office of Inspector General (OIG) will start conducting these investigations in the near future. By law, the OIG is responsible for detecting and preventing fraud and abuse and will have 6 years to start a PPP loan investigation. With the recent public disclosure of all companies that received a PPP loan in excess of $150,000, businesses are asking what can be done now to prepare for these investigations.
Armed with a staff of former IRS executives and commissioners, experienced litigators, and tax specialists, alliantNational’s Paycheck Protection Program (PPP) Audit can help your company assemble the necessary documentation that will be requested during an investigation.
alliantNational services include:
- A complete review of the basis and related documentation for making the certification of economic uncertainty and need substantiating the application and eligibility for the PPP loan.
- A written deliverable providing a summation of why the certification was reasonable along with underlying documentation.
- Assistance with other issues around the application, forgiveness, and future investigation, including:
- A review of the forgiveness application;
- Assessment of liquidity at the time of the loan;
- Assistance on discrete legal issues such as affiliation;
- Provide recommendations for the six (6) year record retention requirement; and
- Representation before the Inspector General during an investigation.
Comprised of former high-ranking IRS officials, key congressional personnel, and tax and legislative specialists, alliantNational’s team can apply their experience and leverage their industry knowledge to help clients proactively evaluate their case and determine the best path forward.
alliantNational helps U.S. businesses and organizations face the challenges in managing effective tax positions and interactions with the IRS and state taxing authorities.
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Take advantage of a free consultation to see how our team of experts can help.