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Puerto Rico businesses can continue filing amendments for the hurricane recovery program with new extension date. Employers can maximize benefits for employees retained after Hurricanes Irma and Maria.
(San Juan, PR, July 24, 2019) – There’s good news for employers who have filed for the Employee Retention Benefit. The deadline to amend an original claim has been extended to September 15, 2019. With nearly 50% of benefit claims unfiled, the extension will help businesses receive maximum benefits.
“Synergi Partners Puerto Rico is pleased our work with the Hacienda, Secretary of Treasury of Puerto Rico and the United States Treasury Department resulted in an extension to appeal the Employee Retention Benefit through September 15, 2019,” said Jim Brown, CEO, Synergi Partners. “Employers should be grateful the respected officials in Puerto Rico and the United States took action to extend this deadline. This extension of time will allow employers in Puerto Rico additional time to appeal their original claim. Many businesses were tremendously impacted by the two devastating hurricanes and are entitled to maximum benefits.”
By using the “Operational Impact Analysis” developed by Synergi Partners, the process evaluates business revenue loss on an individual basis. Through an extensive evaluation, Synergi can show how the business was impacted by the hurricane(s) to help businesses maximize the claim. Businesses generally receive a 265% increase in benefits when Synergi reviews and processes the amended claim.
Leveraging its years of experience as an administrator of government business assistance programs and a tax credit services firm, Synergi Partners is the market leader and well positioned to assist local businesses in this program. Synergi manages the entire appeal process with the Treasury, from application, appeal and benefit payment receipt.
For more information on Synergi Partners please visit www.synergipartners.com/prdisaster.
History of Employee Retention Benefit
The Employee Retention Benefit was established in 2018 by the Puerto Rico Treasury Department and approved by the U.S. Secretary of Treasury to aid employers in Puerto Rico affected by Hurricane Irma and Hurricane Maria. For those employers who were able to retain employees after the disasters, they can claim a benefit of up to $1,920 for each qualified employee. The new deadline is September 15, 2019 for anyone wishing to amend a previous filing.
About Synergi Partners
Thought leaders that make up Synergi Partners’ executive team with over 200 years of combined experience have made significant contributions to the incentives industry. As tax credit veterans with years of experience and serving clients of all sizes in virtually all industries, Synergi Partners’ focus is on assisting businesses in navigating federal and state tax credit programs. Synergi Partners’ main goal is to provide the best service available to achieve maximum value for its clients.