The US Treasury Department is cracking down.
Sadly, I thought this might happen. Lots of LLC employers in the private service world… Make sure your employers know the law for payroll issues, especially under the current circumstances. Call us for a referral if you need legal and/or payroll guidance.
A senior Treasury official told Page Six, “Household employers are ineligible from applying for loans through the Paycheck Protection Program under the CARES Act. The Interim Final Rule published by the Small Business Administration explicitly states, ‘The (Small Business) Administrator, in consultation with the Secretary of the Treasury, determined that household employers are ineligible because they are not businesses,’” adding, “Household employers who apply and receive these funds — meant for small businesses suffering demonstrable harm due to the coronavirus outbreak — could face investigation and possible prosecution.”
Read here: Possible criminal charges against rich homeowners who asked for