News & Analysis as of

CARES Act Loan Forgiveness Audits

Bradley Arant Boult Cummings LLP

PPP Loan Credits and Government Contracts: What Contractors Need to Know During Incurred Cost Reviews

As federal contractors continue to navigate the post-pandemic compliance landscape, a recurring issue has emerged in government audits and incurred cost reviews: whether and how contractors must credit the government for...more

Husch Blackwell LLP

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on

In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more

PilieroMazza PLLC

PPP Loan Fall-Out: Expect More Audits and Investigations

PilieroMazza PLLC on

Unfortunately, the PPP Loan fall-out is far from over.  As we noted in the last blog on PPP issues, we are seeing a number of PPP Forgiveness denials for a number of different reasons, and, along with that, we are seeing the...more

Cozen O'Connor

In extremis — PPP Money Is Not “Free” So Applicants & Recipients Need to Beware

Cozen O'Connor on

As most of the population is aware, to try and preserve the economy and businesses viable during the COVID-19 pandemic, congress passed the CARES Act. That bill included the Payroll Protection Program (PPP), in which small...more

Bowditch & Dewey

Five Things to Know About PPP Loan Audits

Bowditch & Dewey on

The Paycheck Protection Program was one of the more innovative and written-about of the CARES Act’s fiscal stimulus packages. The U.S. Treasury and Small Business Administration (SBA) leveraged the private banking sector to...more

Vinson & Elkins LLP

A Second Wave Of COVID-19 Fraud Enforcement: An Emerging Risk For Businesses

Vinson & Elkins LLP on

On March 26, 2021, the Department of Justice (“DOJ”) issued a press release trumpeting the agency’s “historic level of enforcement action” in response to COVID-19 related fraud. Roughly one year after Congress passed the $2.2...more

Chambliss, Bahner & Stophel, P.C.

On the Horizon for 2021 — Paycheck Protection Program and Provider Relief Fund Reporting Requirements and Audits

If your radiology practice received payments from the U.S. Department of Health and Human Services (HHS) Provider Relief Fund (PRF) or a loan under the Paycheck Protection Program (PPP) in 2020, you are likely aware of the...more

Chambliss, Bahner & Stophel, P.C.

Key Guidance on SBA's Loan Necessity Questionnaire for Paycheck Protection Program Loans

The U.S. Small Business Administration (SBA) issued guidance on the recently issued “Loan Necessity Questionnaire” (SBA Form 3509/3510). Lenders must require Paycheck Protection Program (PPP) borrowers to complete the...more

Harris Beach Murtha PLLC

PPP Loan Forgiveness Applications and Increase in Federal Investigations Pose Risks for Small Businesses

A significant part of the March 2020 CARES Act, the federal government’s Paycheck Protection Program (PPP) provided a lifeline for hundreds of thousands of small businesses across the nation, helping struggling owners pay...more

Maynard Nexsen

PPP Loan Audits: What to Expect, and How to Appeal

Maynard Nexsen on

The Paycheck Protection Program (PPP), as established by the CARES Act and subsequent guidance found in the PPP Interim Final Rules, provides loans and loan forgiveness based on borrower's certifications and documentation...more

Pillsbury Winthrop Shaw Pittman LLP

COVID-19 Relief: Paycheck Protection Program and Issues in M&A Transactions

Potential merger partners of and investors in businesses that have received loans under the Paycheck Protection Program should be aware of particular risks and other diligence considerations. Any potential merger partner or...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit

Williams Mullen on

Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more

Pillsbury Winthrop Shaw Pittman LLP

Paycheck Protection Forgiveness and Compliance—10 Frequently Asked Questions

Considerations for PPP borrowers as they apply for loan forgiveness - As the Paycheck Protection Program (PPP) enters its forgiveness phase—where many borrowers have exhausted or are about to exhaust their loans and will...more

King & Spalding

Insurers Now Offering PPP Loan Insurance

King & Spalding on

As additional and conflicting guidance on Paycheck Protection Program (PPP) loans is released by the Small Business Administration (SBA), uncertainty about eligibility and loan forgiveness has persisted. In connection with...more

Burr & Forman

SBA Releases List of PPP Borrowers – Which Businesses Are Now Audit Targets?

Burr & Forman on

The SBA and the United States Treasury have now released a list of over 600,000 PPP loan borrowers who received PPP loans of $150,000 or more. This list includes the name of the borrowers, the general loan range of the PPP...more

Downs Rachlin Martin PLLC

SBA Releases Application Form/Instructions for PPP Loan Forgiveness

The Small Business Administration (“SBA”) has released the much-anticipated application and instructions for how Paycheck Protection Program (“PPP”) borrowers can seek loan forgiveness. A link to the application and...more

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