Why You Should Hire A PPP Audit Attorney If You're Being Audited
Because of the coronavirus pandemic, your business and its employees might have been impacted pretty heavily. Because of this, you might have participated in the Paycheck Protection Program (PPP). If this is the case, then there is the possibility that you could be audited. Basically, this means that the Small Business Administration might perform an audit to determine what you did with your PPP funds. If you have received notice that you are being audited, then you should hire a PPP audit attorney as soon as possible. If you're thinking about skipping hiring a PPP audit attorney, you should know that it's a good idea to hire one of these professionals for these reasons and more.
Preparing for the Audit Can Be Stressful
If you have received notice that you are being audited, then you might be really stressed out and worried. After all, you might be really worried about what is going to happen, and you might not know what you are supposed to do. You might find that you can get some relief from your stress and that you can feel a whole lot better about the situation if you hire a PPP audit attorney. They can tell you a little more about what to expect, and they can help you feel as if you aren't alone when you are going through your audit.
Preparing for the Audit Can Be Complicated
You may need to show financial documents and more when preparing for your audit. Because of this, you should know that the process of preparing for your audit can be quite complicated. Luckily, with the help of an attorney, you can get the help that you need when preparing for your audit.
You Could Face Serious Issues If You Don't Take the Audit Seriously
It's important for you to take your PPP audit very seriously. After all, there are serious penalties if it is determined that you did not use your PPP funds as you were supposed to. You could have to repay the money, and you could face serious fines. There is also the possibility that you could face criminal charges, depending on the situation. Because you probably don't want to find yourself facing any of these serious penalties, you will probably find that it's worth your while to hire a PPP audit attorney who can help you handle the audit in the proper manner. Also, if you already have an attorney on your side to help you with the audit, then you should be able to count on that attorney to help you if you do face penalties after your audit.