PPP Loans, Employees Refusing to Return, and the IRS

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).

If you have questions, please contact us or other qualified counsel.

If you want to talk through some of those ideas, let’s schedule a time to chat. If you want to schedule a 15 minute call with me, go to my online scheduler (Note: For those of you who are not clients, the call will include a $50 fee. Clients will be billed the lesser of $50 or according to your fee agreement).

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