HR 324 · In committee · last action January 9, 2025
<p><strong>PPP Shell Company Discovery Act</strong></p><p>This bill requires the Internal Revenue Service (IRS) to compile a list of Paycheck Protection Program (PPP) loan recipients whose loans were forgiven under the program.</p><p>Additionally, the IRS must compile (1) a list of such loan recipients who did not withhold payroll taxes in 2019, and (2) a list of loan such recipients for which the aggregate amount of PPP loans exceeded four times the greatest amount of wages paid by the recipient during a calendar month in 2019.</p><p>The IRS must notify the Department of Justice when the lists are complete.</p>
William Timmons (R-SC)
No votes recorded against this bill yet — vote coverage is a work in progress.
<p><strong>PPP Shell Company Discovery Act</strong></p><p>This bill requires the Internal Revenue Service (IRS) to compile a list of Paycheck Protection Program (PPP) loan recipients whose loans were forgiven under the program.</p><p>Additionally, the IRS must compile (1) a list of such loan recipients who did not withhold payroll taxes in 2019, and (2) a list of loan such recipients for which the aggregate amount of PPP loans exceeded four times the greatest amount of wages paid by the recipient during a calendar month in 2019.</p><p>The IRS must notify the Department of Justice when the lists are complete.</p>