APPLY TODAY FOR YOUR PAYROLL TAX REFUND!*
Eligible Employers can claim up to $26,000 per employee for 2020 & 2021!
“The IRS anticipates 70 - 80% of businesses are good candidates for taking the Employee Retention Credit”
- Forbes
Don’t miss it! Your company may be eligible if:
- The business was affected by COVID-19
- The business had between 4 - 500 full-time equivalent employees.
8 Minutes and Four Easy Steps to Apply
Qualify by filling out the 8 minute application
Upload supporting documents to the Innovation Refunds secure portal
Your application is reviewed by a specialized team of CPAs
Check your projected refund amount for FREE!
Frequently Asked Questions About the Employee Retention Credit
What is the Employee Retention Credit?
ERC is a payroll tax refund born out of the same COVID relief bill as PPP, incentivizing businesses who kept employees on payroll during the pandemic. Initially, companies were limited in their ability to claim either PPP or ERC but not both. In early 2022, the rules changed and now your business can claim ERC even if you received PPP funds.
Who qualifies for this refund?
The IRS expects 70% - 80% of small and medium businesses to qualify. If your business experienced disruptions to commerce, travel, or group meetings, you may qualify! This includes supply chain disruptions, price increases, staffing shortages, difficulty hiring, reduced hours, reduction in goods or services offered, were unable to travel, or attend conventions. The Refund Specialists at Innovation Refunds can help you find out more.
Can we wait to claim ERC?
While you have the next 2 years to claim ERC for both 2020 and 2021, just as PPP ran out of allocated funds, ERC could. Don’t delay; be sure to claim your spot in line and receive the funds rightfully owed to you.
How is my refund calculated?
Determining the proper amount that you’re entitled to is a complex accounting process that requires an expert analogous to an Orthopedic Surgeon or Cardiologist. One of the reasons that we choose Innovation Refunds is that their expert CPAs and Tax Attorneys determine, for free, exactly how much money your business is eligible to receive. Helping businesses to properly unlock these government incentives is Innovation Refunds’ specialty.
Do I have to pay this back?
It’s a refund of payroll taxes. It’s YOUR money! There are no limitations on how you use it.
How long will it take to get my refund?
Innovation Refunds' work will be completed within 30 days of receiving your documents. You’ll receive refund checks from the US Treasury in 5-8 months depending upon backlog. The longer you wait, the longer it will take.
Is there a cost associated with this service?
There are no upfront costs to determine if your business qualifies for a payroll tax refund, and if it does, how much you're qualified to receive. On average, Innovation Refunds invests 14 hours of expert CPA/Attorney time - at their expense - to determine your eligibility. You will never be charged for this time. If you decide to move forward, Innovation Refunds merely shares in a percentage of the funds you actually receive from the government.
Choose A Decidedly Human Approach to Business Banking
Located in the heart of Central Indiana, we’re a banking partner you can trust. We pride ourselves on delivering the financial solutions businesses need, like taking full advantage of the Employee Tax Credit. Since 1873, we’ve come alongside entrepreneurs and enterprises alike to ensure you have the right resources and relationships to grow with confidence.
Unlock the Benefit of the Employee Retention Credit
ERC is a payroll tax refund credit available until funds run out. With nearly 80% of businesses meeting qualifying criteria, now is the perfect time to request your refund estimate.
*Citizens State Bank’s website contains links or references to other websites. Citizens State Bank does not endorse, approve, certify, or control those external sites and does not guarantee the accuracy, completeness, efficacy, timeliness, or accurate sequencing of the information contained on them.
All applicants are subject to Tax Evaluation by Innovation Refunds. Pre-qualification is not a guarantee of approval. Citizens State Bank of New Castle is not providing tax advice; refer any tax related questions to a licensed tax professional
Citizens State Bank of New Castle is not affiliated with Innovation Refunds and has no involvement in the approval process. Citizens State Bank makes no representation or warranty as to the quality, accuracy, or reliability of Innovation Refunds website or this service in general.
Citizens State Bank may receive compensation for referrals made through approved channels. Your decision whether or not to utilize Innovation Refunds to obtain the described credit will have no impact on any rates or fees charged or paid to you by Citizens State Bank of New Castle.