Apply Today for a Payroll Tax Rebate
Businesses may qualify for up to $26,000 per eligible employee*
Was your business affected by COVID-19?
Core Bank has partnered with Innovation Refunds, an expert FinTech provider, to help you unlock more government incentives and substantial cash refunds! Our preliminary analysis indicates that you likely qualify for up to *$26,000 per eligible employee on your payroll with the Employee Retention Credit. Click below to get started on your refund.
Schedule a meeting with a member of the Innovation Refunds team to get all of your questions answered prior to filling out the form!
What is the ERC - Employee Retention Credit?
ERC is a refundable payroll tax credit. Born out of the same CARES Act as PPP, its aim is to provide economic relief for small and medium businesses who retained employees during the COVID-19 pandemic. Initially, eligible employers could only take either PPP, or ERC. In 2021, as part of the Consolidated Appropriations Act, Congress amended this provision, allowing businesses to apply for both.
How is ERC different from PPP?
PPP was a forgivable loan. ERC returns the payroll taxes that your business has already paid. Once you receive the ERC funds from the US Treasury, no further action is required on your part.
Why haven't I heard about ERC before?
PPP was heavily marketed by the SBA, while ERC is claimed directly through the US Treasury. Along with our bank partners, it’s our mission to educate you and obtain for your business the payroll tax refund that it’s entitled to.
Why can't my CPA do this for me?
There are over 70,000 pages of tax code; it’s impossible to be an expert on all of them. ERC is all we do. It’s like the difference between your family doctor and a neurologist. By concentrating on this one program, we understand the intricacies and nuances involved in determining your eligibility and accurately calculating your refunds.
How do you know if your business qualifies?
The IRS expects 70% – 80% of small and medium businesses to qualify. If your business experienced disruptions to commerce, travel, or group meetings, you 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. Talk to one of our Refund Specialists to find out more.
How is the 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?
Unlike PPP, this is not a loan. It’s money for your business, and it’s up to you how you use it.
For Core Bank customers, there is no upfront cost to determine if your business qualifies, and if so, to receive what amount of money. Innovation Refunds on average 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 money that you actually receive from the government.
How much time do you have?
We all know that government funded programs are subject to change. Time is of the essence. As of today you can obtain these funds but for how long remains uncertain. PPP, Restaurant Revitalization, and other funds ran out without notice. Don’t delay; be sure to claim your spot in line and receive the funds rightfully owed to you.
Click here to get started on your refund!
*Subject to Tax Evaluation by Innovation Refunds. Pre-qualification is not a guarantee of approval. Core Bank is not affiliated to Innovation Refunds and makes no representation or warranty as to the quality, accuracy, or reliability of Innovation Refunds website.