CERTS Grant Program Guidance Finally Released
The Department of Treasury released guidance on the CERTS grant program earlier today on their website:
We’ll discuss the details over the next few blog posts, but here are some of our initial takeaways:
- the grant will be formula based and non-competitive, where the applicant will not need to apply for a certain amount
- Treasury will create a web-based application portal through their website
- the application portal will be open for only four weeks, and no applications will be taken after that period
- the applicant won’t know if they are approved or the amount of the grant until after the application period ends
- an extensive list of information was provided to help the applicants prepare for the application
There was no timeframe given as to when the application portal will be available. So while it’s great Treasury finally issued guidance on the program, it could be into July before any grant money gets released.
Andy is a CPA and trusted advisor with 15 years of experience providing tax, accounting, assurance, and consulting services to transportation industry owners and operators. He is a tax principal with CLA in the Minneapolis, MN office. He also consults with high net worth individuals and owners of closely-held transportation businesses on all aspects of tax planning, estate planning, and retirement planning. Andy is also the tax leader for transportation industry across CLA.
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