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Archive by Month: September 2022

What If I (or My Business) Received PPP Loan Forgiveness Improperly?

Offshore Account Update

Posted in on September 30, 2022

Under the federal Paycheck Protection Program (PPP), businesses that received loans and used the proceeds for eligible business purposes qualified for complete loan forgiveness. Qualifying businesses could self-certify, and most participating lenders would grant forgiveness without much more than a cursory review.

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What To Do (and What Not To Do) When You Receive a Letter or Notice from the IRS

Offshore Account Update

Posted in on September 16, 2022

Recently, the Internal Revenue Service (IRS) published a Tax Tip titled, Got a letter or notice from the IRS? Here are the next steps. In the Tax Tip, the IRS discusses seven steps to take after receiving correspondence from a revenue agent in the mail.

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