Article
IRS Probing $100 Billion In Potential COVID-19 Loan Fraud
IRS Probing $100 Billion In Potential COVID-19 Loan Fraud
Authored by Naveen Athrappully via The Epoch Times,
Roughly $100 billion in loans given for COVID-19 programs have been identified as suspected fraud by tax authorities.
Earlier this year, the Small Business Administration (SBA) referred more than $200 billion in suspected COVID loan fraud to the IRS.
The tax agency then compared the information that the borrowers submitted to the SBA when applying for the loans with the information they declared to the IRS.
Analysis identified discrepancies associated with approximately $100 billion in loans, the...
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