GFOA, Partners Send Treasury Letter On Taxing Emergency Aid As IncomeView Letter
On September 15, GFOA joined multiple partner organizations in a letter sent to the Treasury Department regarding the tax treatment of utility assistance benefits provided through the Coronavirus State and Local Fiscal Recovery Funds (CSLFRF). The undersigned group of local utility stakeholders urges the Treasury to make explicit that utility assistance benefits from the CSLFRF would not be considered taxable income for participating households. The letter goes on, saying that by making this clarification, government administrations across the country will have fewer obstacles to navigate when dealing with CSLFRF funds.
- Publication date: September 2021