The Department of Justice (DOJ) has intensified its already aggressive crackdown on fraud related to COVID-19, recently announcing criminal charges against a telemedicine company executive, a physician, marketers and medical business owners for losses exceeding $143 million. These recent prosecutions provide a
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By Matthew S. Adams and Marissa Koblitz Kingman
Businesses that are asked to complete SBA Form
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By Matthew D. Lee and Marissa Koblitz Kingman
Intensifying its crackdown on suspected fraud in pandemic relief programs, the U.S. Department of Justice has established the COVID-19 Fraud Enforcement Task Force, sending a clear message that any individual or business that benefited from government aid should expect enhanced scrutiny.
Due to the unprecedented scope of
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By Gabriel Herman and Marissa Koblitz Kingman
Paycheck Protection Program (PPP) loans were designed to help small businesses cover explicit allowable expenses during the COVID-19 pandemic. There are various eligibility requirements that businesses must satisfy before applying for PPP loans and subsequently upon seeking forgiveness. Because the loans were sought and made at rapid speed,…
April 20, 2021 – Alerts
By Matthew D. Lee and Marissa Koblitz Kingman
The Justice Department continues to intensify its crackdown on COVID-19 relief program fraud, a clear indication that any individual or business that has benefited from the government aid should expect enhanced scrutiny from various government agencies in the coming months and possibly…
By Matthew D. Lee and Marissa Koblitz Kingman
The Justice Department has widened its crackdown on COVID-19 fraud, announcing the first criminal case alleging misuse of federal relief funds designated for medical providers. The egregious nature of the alleged fraud and relatively small amount of funds involved provide valuable clues about the pace, breadth and…
In recognition of the continuing economic hardship caused by the COVID-19 pandemic, the Internal Revenue Service is easing its collection activities to avoid the seizure of bank accounts containing either Economic Impact Payments or Paycheck Protection Program loan proceeds.
In a guidance memorandum issued to all collection employees, the IRS has directed that before issuing…
The U.S. Justice Department announced its first civil settlement with a Paycheck Protection Program borrower alleged to have committed fraud in connection with this highly popular COVID-19 relief program. A bankruptcy online retailer and its chief executive officer agreed to pay $100,000 in damages and penalties to resolve claims that they committed fraud in connection
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By Maureen Monaghan and Adam Young
The Consolidated Appropriations Act, 2021 (Act), signed into law on December 27, 2020, amends certain tax provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA). It also clarifies the tax treatment of Paycheck Protection Program (PPP) loan forgiveness,…
The $900 billion Consolidated Appropriations Act of 2021 (the Act) modifies the Paycheck Protection Program (PPP) in a variety of business-friendly ways likely to benefit both existing PPP borrowers and businesses that receive a second PPP Loan.
Specifically, the Act includes the following noteworthy changes:
The Act…
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