News
Archive by Month: June 2020
You filed your 2020 income tax returns with the Internal Revenue Service (IRS), and you assumed this meant that you were done thinking about your taxes until next year. But, you have just received an audit letter from the IRS, and now you are wondering what – if anything – you need to do to make sure you (i) do not pay more than necessary, and (ii) are not at risk for facing allegations of federal tax fraud.Read More
Could an SBA Paycheck Protection Program Loan Audit Lead to Trouble with the IRS?
Articles/NewsPosted on June 16, 2020
Due to widespread fraud under the Paycheck Protection Program (PPP), the U.S. Small Business Administration (SBA) will be auditing many loan recipients at the time they apply for forgiveness through their lenders. These audits have the potential to lead to additional scrutiny from various federal agencies, including the Internal Revenue Service (IRS). If your company is contacted by the IRS with regard to its use of PPP funds, it will be important for you to consult with a Boston tax attorney promptly.
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