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Started By
Message
re: Is there a new PPP hustle going around?
Posted on 5/24/21 at 11:27 am to GetCocky11
Posted on 5/24/21 at 11:27 am to GetCocky11
quote:
It just seems really easy to detect fraud with this program.
I'm sure it is. The question is will DAs in certain cities who have a proclivity to enforce "restorative justice" do anything about it.
Posted on 5/24/21 at 11:29 am to LSU Coyote
America - turning a blind eye to traitors is some people's wet dream.
Posted on 5/24/21 at 11:29 am to Bazzatcha
All you probably need is the paperwork saying “I’m a business” basically.
This is why there is so much waste and fraud. Not enough oversight and things are way too lax.
This is why there is so much waste and fraud. Not enough oversight and things are way too lax.
Posted on 5/24/21 at 11:30 am to Centinel
quote:
I'm sure it is. The question is will DAs in certain cities who have a proclivity to enforce "restorative justice" do anything about it.
It's a federal program.
Posted on 5/24/21 at 11:33 am to Mingo Was His NameO
quote:
It's a federal program.
That's even worse.
Posted on 5/24/21 at 11:34 am to Bazzatcha
I know a guy who applied for a business license without any kind of business and then applied for $30k PPP and got it.
Posted on 5/24/21 at 11:35 am to Centinel
quote:
That's even worse.
The DOJ generally doesn't frick around with this type thing.
Detecting fraud is incredibly easy to do on these. When they file their information going forward a computer is going to be able to flag who didn't qualify, but took out the loan 100% of the time.
Posted on 5/24/21 at 11:35 am to Jim Rockford
quote:
The second tranche, the one in effect now, you have to document that your business income for one quarter of last year was at least 25% lower than the corresponding quarter the previous year. I may be slightly off in detail but that's essentially it.
I think that is correct. My Dad’s small business could not apply for the second round of PPP because he didn’t have the required loss.
It would seem like having to document a certain percentage of revenue lost would make it really hard for someone without a business to get through.
This post was edited on 5/24/21 at 11:37 am
Posted on 5/24/21 at 11:35 am to 2geaux
quote:
I know a guy who applied for a business license without any kind of business and then applied for $30k PPP and got it.
And he's going to be caught
Posted on 5/24/21 at 11:36 am to Chef Curry
Not just the feds.
State will flag returns by certain preparers if they have e a history of doing shady shite.
State will flag returns by certain preparers if they have e a history of doing shady shite.
Posted on 5/24/21 at 11:36 am to Mingo Was His NameO
quote:
When they file their information going forward a computer is going to be able to flag who didn't qualify, but took out the loan 100% of the time.
exactly.
Posted on 5/24/21 at 11:37 am to Mingo Was His NameO
quote:
The DOJ generally doesn't frick around with this type thing.
Normally I'd say you're correct. But this administration is anything but normal when it comes to this type of thing.
quote:
Detecting fraud is incredibly easy to do on these.
I'm sure it is. But again, in our current climate, I seriously doubt the DOJ will do much of anything with this. There's no political points to be scored.
Posted on 5/24/21 at 11:39 am to Centinel
quote:
There's no political points to be scored.
i dunno
if you're going to be pushing for more and more spending, getting a few guaranteed victories over fraud is a good way to keep the validation of the new programs respectable. also they can always come out with a line like "we prosecute tax cheats and frauds like Donald Trump"
Posted on 5/24/21 at 11:41 am to Centinel
quote:
There's no political points to be scored.
There's tons of political points here.
"We fight fraud, this program is secure because we didn't let anybody get away with it"
Posted on 5/24/21 at 11:45 am to Bazzatcha
I know a couple who had a oil field service company, when the oil field started going bust they were headed for a bankrupt arses.
These two are as sorry as people come too.
They took out a 500K + PPP loan claiming 25 employees, they used the wife's kids SS#'s because they all have different last names plus who knows who else.
Since the loan they have (documented all on facebook by her) bought a 300+K home, a 100k truck and gone on at least two vacations.
These two are as sorry as people come too.
They took out a 500K + PPP loan claiming 25 employees, they used the wife's kids SS#'s because they all have different last names plus who knows who else.
Since the loan they have (documented all on facebook by her) bought a 300+K home, a 100k truck and gone on at least two vacations.
Posted on 5/24/21 at 12:13 pm to SlowFlowPro
Time to replace all those folks locked up for minor possession charges with the PPP scammers
Posted on 5/24/21 at 12:35 pm to Bazzatcha
Getting a PPP loan is a good way to land on IRS audit lists
Posted on 5/24/21 at 12:54 pm to Centinel
If this is anything like the fraud enforcement for the Road Home program, they costs both monetarily and political will lead to almost no prosecutions. It will cost probably 2-3 times more to detect the fraud and prosecute it. Then people will begin to bang on their reps about we needed the money, no one told us the rules, etc., etc., etc. Only this will be a national instead of State level screw job.
Posted on 5/24/21 at 1:09 pm to Bazzatcha
This is much worse than a few hundred dollars a week unemployment. So many churches and private schools received 6-7 figure PPP and don’t pay taxes. Not to mention the businesses that never closed and also received 6-7 figures PPP.
Posted on 5/24/21 at 1:10 pm to Bazzatcha
quote:Hrm, according to Mom's tax filing last few years she's a "sole proprietor" since she gets royalty checks on oil/gas leasing.
CPA setting them up as a sole proprietor barber or farmer
Now where did she wander off to???
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