re: Is there a new PPP hustle going around?

America - turning a blind eye to traitors is some people's wet dream.

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.

I know a guy who applied for a business license without any kind of business and then applied for $30k PPP and got it.

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.

Not just the feds.

State will flag returns by certain preparers if they have e a history of doing shady shite.

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.

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"

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.

Getting a PPP loan is a good way to land on IRS audit lists

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.