Did you know that your credit union may be eligible to receive a tax credit up to $26,000 per employee because of the CARES Act Employee Retention Tax Credit? LEVERAGE, One Digital, and Synergi Partners can help your credit union with 25 or more employees get the most money back during this upcoming tax season. These are refundable payroll tax credits that can be used by the credit union in any manner to improve operations, facilities, or employee development.
To be eligible, your business must have been fully or partially suspended due to government orders OR experienced a reduction in year-over-year gross receipts of 50% in 2020 and 20% in 2021. The vast majority of credit unions qualify under the partial suspension pathway.