Is your company facing a PPP Audit? Will the Federal Government foreclose on your business? Get the legal assistance you need now. At Bret Jones, P.A., a trusted business law firm, we understand that you may find yourself frustrated at the idea of an audit. The actions you took were necessary to get the requisite economic assistance during the Covid-19 Pandemic—a time of unprecedented crisis. Your hands were tied. You needed the economic relief essential for the health of your company.
No one could have predicted a catastrophic incident such as this; and yet, as a leader, you are trying to prevent your ship from sinking. You’ve spent years providing for the success of your company. Now it is time to make sure that you not only stay afloat, but you reach future shores of success by keeping payroll costs fully funded.
What a PPP Audit May Mean for Business Owners
As the captain of your ship, you’ve weathered many storms. You’ve sailed enough open water to know there are more risks that you cannot see, both below and above the waterline, than the ones that stand before you. You need to preserve a “tomorrow” for your crew and there is no shame in doing what must be done to assure that. Turning back to port may set you back, but it won’t sink the ship. After all, you’ve worked too hard to seemingly let it all ride in the hands of fate.
As business owners, we’re not here to let any tempests blow the fate of our company where they may; we’re here to find a solution, stand guard, and hold the fort during a storm. We may be in the middle of a storm, but we’re going to survive. Furthermore, we don’t need the aftermath to pull us under the water. We need to hold tightly to the chance of truly gaining a foothold in the positive future that awaits us after the dark clouds have disappeared.
Nevertheless, we’re all in the middle of a torrential downpour that no one expected – a force majeure of sorts. We can’t let the claws of doubt impede our steps any longer. As a CEO or CFO, you’ve likely faced battles before, but none like this. Now, we need to stick together. We need to reinforce our troops and make sure that we’re unified. We don’t have time for dissension in our ranks that would come from a PPP audit. We’ve almost pulled through together, and now there’s going to be an attempt to stop our forward motion? No, thank you.
What could an audit mean for your business? The term audit often portends stagnation and difficulty ahead for any company. If you’re trying to recover from the current economic crisis, you don’t have time to consider the ramifications of a Paycheck Protection Program audit. No one has time to put on the brakes. You need a law firm that can provide excellent service and give you the confidence to focus on keeping your company at speed. That’s why you need Bret Jones, P.A.
What We Can Do for You in Defense of an Audit By the Federal Government
As you are already aware, Treasury Secretary Steven Mnuchin made an announcement on April 28th, 2020, stating that any business receiving more than $2 million dollars in PPP funds would be audited. (Hirsch, 2020). At Bret Jones, P.A., we understand that many businesses are doing everything they can to try and stay afloat during this difficult time.
There may soon come a time that you will be looking into PPP audit defense. You’ll need a law firm at your side that understands not only the complexity of the situation but the magnitude of what goes into your day-to-day operations, how that cannot be curtailed or halted due to the whims of an auditor.
At Bret Jones, P.A., we can provide the utmost in legal care. Come to us for your PPP audit legal concerns. Our legal team is devoted to providing the best in legal care, so you can focus on the important thing – the success of your company. No one has time to be distracted from the big task at hand, and that is surviving this torrential downpour. You’ve worked hard. No one should be able to waltz in and stall the well-oiled machine that is your company.
How We’re Going to Help You with a PPP Audit
Whether you are looking for a trusted Florida corporate lawyer or a law firm familiar with the multifaceted world of business, reach out to us at Bret Jones, P.A. for more information on PPP audit defense. As you are aware, when applying for the PPP loan, a business automatically authorizes the lender to share tax information with the SBA, or Small Business Administration. This is to ensure loan compliance and to allow SBA loan reviews. We can find this spelled out in the PPP Final Interim Rules in the Federal Register as well as in the Paycheck Protection Program application (which you can find here). As seen in the Federal Register,
“I acknowledge that the lender will confirm the eligible loan amount using tax documents I have submitted. I affirm that these tax documents are identical to those submitted to the Internal Revenue Service. I also understand, acknowledge, and agree that the Lender can share the tax information with SBA’s authorized representatives, including authorized representatives of the SBA Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews.” (Paycheck Protection Program, 2020).
When you contact us at Bret Jones P.A., with your PPP audit legal concerns, we can let you know more about the ways in which we can guide you during this process. The most important factor is that you have someone you can trust so that you can focus on how you will continue to enhance your company after the current crisis we are facing. In these unprecedented times, turn to a Florida corporate law firm that can take care of your audit needs.
Contact Bret Jones, P.A. For Answers to Paycheck Protection Program Audits
At Bret Jones, P.A., we are a dedicated law firm that has provided legal counsel to countless businesses over the years. During an audit of your business, it may come to light that you need an experienced defense. Truly, we are all in this together. If you have questions or legal concerns regarding a PPP audit, please contact us at Bret Jones, P.A.
Hirsch, L. (April 28, 2020). Small business loans above $2 million will get full audit to make sure they’re valid, Mnuchin says. CNBC. Retrieved from CNBC website: https://www.cnbc.com/2020/04/28/small-business-loans-above-2-million-will-get-full-audit-to-make-sure-theyre-valid-mnuchin-says.html
Paycheck Protection Program Borrower Application Form, SBA Form 2483, (April, 2020). Retrieved from U.S. Small Business Administration website: https://www.sba.gov/sites/default/files/2020-04/PPP-Borrower-Application-Form-Fillable.pdf
Business Loan Program Temporary Changes; Paycheck Protection Program, 85 Fed. Reg. 20815 (April 15, 2020). Federal Register: The Daily Journal of the United States. Web. Retrieved from U.S. Department of Treasury Website: https://home.treasury.gov/system/files/136/PPP–IFRN%20FINAL.pdf