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1 day ago · Under PPP, business owners could apply for loans to offset operational costs for payroll, employee benefits, facility expenses and other bills. “Individuals who are employed by the federal government yet seek to steal from federally funded programs by using false pretenses and enrich themselves with PPP loan funds will be held accountable ...
1 day ago · September 24, 2024 3:54 PM. EAST ST. LOUIS – Felicia D. Harris, a 44-year-old woman from Belleville, has been charged by a federal grand jury with four counts of interstate transportation of a ...
1 day ago · According to court documents, she then used misinformation to apply for loan forgiveness, which was subsequently approved. In response to financial hardships created by the COVID-19 pandemic, the U.S. Small Business Administration implemented the PPP to offer relief and forgivable loans to struggling businesses.
1 day ago · The U.S. Small Business Administration reached a major milestone Wednesday, as its Paycheck Protection Program direct borrower forgiveness portal recorded its one millionth PPP loan forgiveness ...
2 days ago · Double-Dipping with Paycheck Protection Program (PPP) Loan Forgiveness: Some businesses have mistakenly claimed the ERC on wages already used to secure the forgiveness of a PPP loan. Under the rules, wages reported for PPP loan forgiveness cannot be used to calculate the ERC.
1 day ago · EAST ST. LOUIS – Felicia D. Harris, a 44-year-old woman from Belleville, has been charged by a federal grand jury with four counts of interstate transportation of a security obtained by fraud. Harris, who is employed at the U.S. National Geospatial Agency in St. Louis, is accused of falsely applying for, accepting, and spending more than $20,000 in Paycheck Protection Program (PPP) funds for ...
2 days ago · PPP Loan Forgiveness: Wages claimed for ERC cannot overlap with those used for Paycheck Protection Program (PPP) loan forgiveness. Employee Services: Large employers claiming ERC for employees who continued to provide services during the pandemic may face scrutiny. Continued Compliance Efforts. The IRS’s battle against ERC fraud is far from over.
