13 May PPP Loans, Employees Refusing to Return, and the IRS
There are lots of questions about the use of Paycheck Protection Program (PPP) loan proceeds. Most employers understand the requirement of using 75% of the loan on their payroll costs. But one question, among many, that arose dealt with what happens to the loan amount if employees refuse to come back to work. The IRS has answered that question in their updated FAQs on the loans (see question 40).
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