Daily Tax Report ®

PPP Data Errors Raise Questions About Relief Effectiveness (2)

July 14, 2020, 10:14 PM

Herb Miller was baffled when he learned that the Trump administration reported that his one-man business in Hixson, Tennessee, was approved for a coronavirus relief loan of as much as $5 million. The amount was $3,700, he said.

“Something is screwed up there,” said Miller, who has been an accountant for almost five decades. “I’m going to have to get this straightened out.”

A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies. Although the maximum PPP loan for a one-person enterprise is $20,833,...

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