Tax Law Insights

A United States District Judge in Washington has ordered the SBA to now release the names and other information of all Paycheck Protection Loan borrowers.  In WP Company LLC d/b/a The Washington Post, et al., v. U.S. Small Business Administration, Civil Action No. 20-1240 (JEB) and a related case, Center for Public Integrity v. U.S. Small Business Administration, Civil Action No. 20-1614 (JEB), United States District Judge James E. Boesberg issued a November 5, 2020 order requiring the SBA to release the names and other information for all PPP loan borrowers.  Under the order, the SBA has until November 19, 2020, to release the names, addresses, and precise loan amounts of all individuals and entities that obtained PPP and also EIDL loans.

The SBA had previously released information for borrowers that received PPP loans of $150,000 or more but did not release information about other PPP borrowers.  The majority of PPP borrowers received loans of less than $150,000, and the SBA had objected to the release of information for these borrowers.

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Burr & Forman has a dedicated team to counsel individuals and businesses in government audits, investigations and defense-related to the Paycheck Protection Program (PPP) and Coronavirus Aid, Relief and Economic Security (CARES) Act. The PPP and CARES Act Audit, Investigations and Defense Team represents and advises clients in audits and investigations involving PPP loans and tax benefits that may have been claimed under the CARES Act.  This multidisciplinary team combines more than 230 years of legal experience and attorneys with previous government positions, including attorneys with IRS Chief Counsel, the United States Department of Justice, and United States Attorneys’ Offices.  More information can be found at www.burr.com.