Employee Retention Credit Still Available
Could Represent Some $26,000 Per Job Retained, Created
Focusing on the Disaster Relief Tax Credit and the Coronavirus Aid, Relief and Economic Security (Cares) Act, Synergi Partners Puerto Rico President Rodrigo Masses said that businesses that qualify may still request assistance from the Employee Retention Credit (ERC) that was signed into law in March last year to encourage the retention of workers in a business’ payroll.
In an interview with Caribbean Business, Masses, who is the former president of the Puerto Rico Manufacturers Association (PRMA), said that Synergi Partners is dedicated to identifying and processing federal tax credits. The company is working on the Employee Retention Credit established by the Cares Act and expanded by the Consolidated Appropriations Act and the American Rescue Plan Act to incentivize companies to retain and create jobs during the COVID-19 pandemic. The ERC could represent some $26,000 per job retained or created from March 13, 2020, to Sept. 30, 2021, the incentives consultant said.
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