An update from HMM, CPAs LLP's Tax Department
Payroll Protection Program Loan Update
This morning, US Treasury Secretary Steven Mnuchin announced that all Paycheck Protection Program (PPP) who received loans in excess of $2 Million would be subject to mandatory audit.
HMM strongly encourages all entities who are participating in the PPP loan program (regardless of loan amount) to retain all documentation related to the application for and compliance with the terms of the PPP program.
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