JD Supra

Effect of “forgiven” PPP loan on the deductibility of covered expenses

One of the principal benefits of the Paycheck Protection Program (“PPP”) is that the principal and interest from any loan forgiven is not includable in a taxpayer’s gross income. In what has developed ...
katc

PPP loan forgiveness requirements loosened as some fight for more small business help

DENVER, Colo. -- President Trump recently approved changes to the Paycheck Protection Program to give small business owners more opportunities to qualify for loan forgiveness. Some owners say even ...
JD Supra

Approve First, Ask Questions Later: SBA Targets Planned Parenthood’s PPP Loans

As of May 2024, the U.S. Small Business Administration (SBA) had flagged nearly 38,000 already-forgiven Paycheck Protection Program (PPP) loans ...
The Courier-Journal

Brown, LLC Represents Whistleblower in an $8.39 Million False Claims Act Settlement for Improper PPP Loan

In June 2021, the college submitted a loan forgiveness application that again misrepresented its employee count, listing only 447 workers. Based on that submission, $6,197,696.64 of the loan was ...
USA Today

Brunswick company agrees to pay nearly $1.5 million following pandemic loan scheme

Leland-based Campbell Sales Group, which does business as Leather Italia USA, will pay nearly $1.5 million in restitution and penalties for a PPP loan scheme. The furniture supplier fraudulently ...