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RE: Use of federal tax loss for purposes of business eligibility for COVID-19 financial assistance

Report Details

Submitting OIG: 
Vermont State Auditor
Report Description: 
The Economic Recovery Bridge Grant program in H.315 uses 2020 federal tax loss to establish eligibility for grants. Focusing on tax loss may help target limited resources to businesses that need assistance to remain viable. However, federal tax loss could include some deductions that increase 2020 losses but overstate the businesses’ need for financial assistance.
Date Issued: 
Tuesday, April 20, 2021
Agency Reviewed / Investigated: 
State of Vermont
Submitting OIG-Specific Report Number: 
N/A
Location: 
VT
United States
Type of Report: 
Other
Professional Standard: 
Other
Questioned Costs: 
$0
Funds for Better Use: 
$0
Report File Link: 
https://auditor.vermont.gov/sites/auditor/files/documents/H.315%20Memo%20to%20Le…

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