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PPP Shell Company Discovery Act 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. 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. The IRS must notify the Department of Justice when the lists are complete.
Introduced
Jan 9, 2025
Last Action
Jan 9, 2025
Session
119th Congress
Sponsors
1 primary · 0 co
Passage Probability
2% — Very Low
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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2%
Estimate based on legislative signals
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Upgrade to ProReferred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.