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Coordinating Payment Protection Program (PPP) and Employee Retention Credits (ERC)

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    New legislation has expanded the CARES Act Employee Retention Credit to PPP recipients

    As your bank sorts through the process for PPP forgiveness and another round of applications, be aware that there is new legislation which allows PPP recipients to also take advantage of the Employee Retention Credit (ERC).

    By partnering with Synergi, you can potentially add further government liquidity to your customers relationships and add Non-Interest Income to the bank.

    Bradley S. Marcus

    Bradley S. Marcus

    Executive Vice President-CARES Bank Alliances

    Cell: 404.422.7899
    LinkedIn: Bradley Marcus

    Brad Marcus is well known in the banking arena, having spent almost 40 years in the industry. Most recently, Brad serves as Executive Vice President- Cares Act Bank Alliances at Synergi Partners. Synergi Partners is the most knowledgeable firm in their space with an executive team of veteran tax credit experts that possess more than 150 years of combined know-how. Synergi Partners is focused on providing solutions to companies to help build productivity and profitability.

    Brad’s interests in tax credits spawned from his many years in economic development and volunteer work for the American Red Cross where he served as chairman of the American Red Cross- Georgia Chapter. He specializes in tax credit applications for banks and building bank alliances to assist banks in providing strategic financial solutions for their customers.

    Brad recently retired from Wells Fargo/Wachovia as Executive Vice President of Commercial Banking- Georgia Division with over 30 years in banking leadership experience. He is now focused on establishing CARES Act partnerships with banks as they provide creditable solutions, including employee retention tax credits, to meet the financial needs of their customers.

    Updated Stimulus Package Expands and Enhances CARES Act Incentives

    In late December 2020 and then again in March 2021, the President signed additional COVID-19 relief package into law that included additional benefits for businesses. Specifically, expanding and enhancing the CARES Act Employee Retention Credit (ERC).

    The ERC was previously unavailable as an option for relief to businesses that received Paycheck Protection Program (PPP) loans through the SBA. However, the new legislation explicitly provides a retroactive amendment to March 27,2020 and clarifies these businesses are eligible to receive the ERC—just not on wages paid with PPP loan funds.

    Synergi Partners is prepared to assist in determining eligibility, calculating, and monetizing the ERC in partnership with you and your clients.

    Your PPP customers? They could be eligible to receive up to $26,000 per employee through new legislation.

    Updates include:

    • A change in regulations allowing employers who have taken PPP to also utilize the Employee Retention Credit (ERC)
    • Extension of ERC for 6 months through June 30, 2021
    • Enhancement to credit amount and expanded qualifiers
      • Increased credit from 50% to 70% of qualified wages
      • Increases limit on per-employee creditable wages from $10K for the year to $10K for each quarter in ‘21
      • New max = $26,000 ($5K / 2020 + $7K / 1Q21 + $7K / 2Q21 + $7K / 3Q21)
    • The CARES Act counted all wages for employers with under 100 employees in 2020 and now raised to all wages for employers with under 500 full-time benefits eligible employees in 2021

    Synergi is prepared to guide you through this process. Reach out to us now to get started:

    Operational Impact
    Full Or Partially Suspended Operation
    Payroll Tax Credit
    Questions? Contact Bradley S Marcus (404) 422-7899 or


    Contact Bradley S Marcus (404) 422-7899 or

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    Our preliminary consultation and eligibility review is free of charge, and can help you decide whether there is an opportunity worth pursuing. Once you are under contract with Synergi, we go through a thorough process to determine if we do deem you eligible for the ERC, and for what timeframe. Our clients receive an Eligibility Statement upon delivery of the credit calculation to document eligibility for the ERC. If in the future your ERC is challenged by the IRS, we provide audit support to defend our work product. Services are billed on a contingency fee based upon the amount of ERC calculated and documented for our clients. The Employee Retention Credit is not a loan but an above-the-line, refundable payroll tax credit.

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