SBA Referral Sparks IRS Investigation Into $100 Billion COVID Loan Fraud
The U.S. Small Business Administration (SBA) and the Internal Revenue Service (IRS) have escalated federal enforcement against pandemic-era relief fraud. Following an extensive agency referral, the IRS has opened official examinations into tax discrepancies associated with approximately $100 billion in Paycheck Protection Program (PPP) and COVID Economic Injury Disaster Loan (EIDL) funds. This joint multi-billion-dollar…