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 Department released a formal website for the CERTS program. While there hasn’t been any guidance released, it is a step in the right direction. It’s anticipated that guidance, FAQs, and a portal for applications will be added in the next few weeks to the Treasury website. It’s expected that the Treasury will simplify the process so motorcoach companies won’t need to utilize a grant writer. Treasury is anticipating 5,000 applicants will take advantage of the program.
Here’s the link to the website:
Coronavirus Economic Relief for Transportation Services Program | U.S. Department of the Treasury
We’ll provide more details when information is 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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