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The CARES Act Employee Retention Credit (ERC) is a fully refundable payroll tax credit intended to aid employers who have been impacted by the COVID-19 pandemic. Originally enacted on March 27, 2020, the ERC allows eligible employers to claim up to $26K per employee from March 13, 2020 - September 31, 2021.
Many businesses are given inaccurate information on the ERC resulting in them not maximizing on the credit or making them feel as if they are not eligible at all. As a result, too many business owners are leaving a lot of money on the table.
While eligibility for the ERC is based on client-specific facts and circumstances, Synergi calculates on average for our clients a credit of anywhere between $3K-$16K per employee for small employers, and $750-$6500 for large employers. Even if you have a client who has filed the ERC already or has spoken with someone else about the program, it's worth taking a second look so we can determine if there is additional money available to your organization.
