Industry trends/analysis
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The IRS Lately: the Good, the Bad, and the Ugly
The IRS has been getting a lot of attention lately, for a variety of reasons. Most of it has been highlighting some frustrations taxpayers have been experiencing along with being a piece of the pending legislative proposals. Over the past 18 months, the pace of change has caused some major headaches for both taxpayers and […]
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CERTS Grant Applications Due Today!
Just a reminder to get your CERTS grant applications submitted today. Applications that are incomplete, unclear, or internally inconsistent may not receive timely consideration and may be rejected. Treasury has indicated that applications submitted AFTER 11:59PM will NOT qualify for a CERTS grant.
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SALT Deductions and Entity-Level Elections
In the transportation world, it’s not uncommon for companies to file in income and franchise tax returns in multiple states depending upon where they are located, where they have employees, and where they are driving. For some companies, it can mean filing returns in 30+ states/jurisdictions. With a $10,000 state and local tax (SALT) limitation […]
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Getting Ready for the CERTS Application
The CERTS portal has only been open a few days, but questions and panic is setting in. Like most of the government programs over the last 15 months, there has been vague guidance and more information is likely to come out in the future. It’s good to remember that the CERTS grant is non-competitive, so […]
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Motorcoach Companies Still Waiting for CERTS Guidance
The motorcoach industry has been devastated over the past year as a result of COVID. In December, the Consolidated Appropriations Act provided some help with $2 billion allocated to transportation relief grants (CERTS). It’s been nearly 3 months, and there still hasn’t been any formal guidance provided on the program itself. This week the Treasury […]
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