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Myths Busted: Get the Payroll Tax Refund with Innovation Refunds

Has your business heard about the payroll tax refund? Thousands of businesses are eligible for this refund, and now, Core Bank has partnered with Innovation Refunds, a leading FinTech provider, to help businesses not only unlock government incentives but also secure substantial cash refunds.

The Opportunity for Thousands

Your business could be owed up to $26,000 per eligible employee on your payroll through the Employee Retention Credit (ERC). It’s incredible how just one application could potentially put thousands of dollars back in your pocket.

Clearing Up Misconceptions

Despite the incredible benefits, there are several myths circulating about the program. Let’s bust those myths so that your business can unlock its maximum refund from the IRS.

Myth #1: “I won’t qualify because my business made a profit during the pandemic.”

False. Congress changed the rules in 2021 to include limited commerce, which impacted almost every American business. So, don’t let the profit during the pandemic hold you back from claiming the refund you rightfully deserve.

Myth #2: “ERC is a loan that I’ll have to pay back.”

False. The Employee Retention Credit is not a loan. Once your business receives the check from the U.S. Treasury, it’s yours to use however you see fit. Imagine the possibilities with that extra cash!

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Myth #3: “I can’t receive ERC because I claimed PPP.”

False. The ERC is a Payroll Tax Refund born out of the same COVID relief bill as PPP. Congress acknowledged the need for businesses to access both programs and changed the rules accordingly. Now, your business can claim ERC even if it received PPP funds.

Myth #4: “My CPA can do this for me, or I can file myself.”

True. However, unless you possess extensive expertise in ERC-specific laws and tax codes, we highly recommend utilizing our team of highly qualified ERC professionals. Our strategic alliance with Innovation Refunds ensures that you have access to their team of Refund Specialists, accountants, and tax attorneys, who have significant experience with ERC. Innovation Refunds makes the process of getting your own money back from the IRS as simple as possible.

Your Opportunity is Now

According to the IRS, 70%-80% of small and medium-sized businesses are likely to qualify for the payroll tax refund. However, determining the exact amount you are entitled to can be a complex accounting process. This is why we partnered with Innovation Refunds. Their expert CPAs and Tax Attorneys will determine, for free, the precise amount your business is eligible to receive. Helping businesses unlock government incentives is their specialty.

For Core Bank customers, there is no upfront cost to determine if your business qualifies and, if so, to receive the proper refund amount. On average, Innovation Refunds invests 14 hours of expert CPA/Attorney time, at their expense, to assess your eligibility. You will never be charged for this time. If you decide to move forward, Innovation Refunds will only take a percentage of the refund you receive from the government.

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Within 30 days of receiving your documents, Innovation Refunds will complete the necessary work. Refund checks from the US Treasury typically arrive within 5-8 months, depending on backlog. As time is of the essence and the program has technically expired, there is a limited window to claim the money owed to you. Act now, as the program could run out of allocated funds at any time and is subject to the whims of congress.

Don’t miss out on this opportunity. Apply today for a payroll tax rebate with Innovation Refunds.

From business checking accounts to complete treasury services, Core Bank is here to simplify the day-to-day needs of every business owner. Discover the services you need to thrive today.

Subject to Tax Evaluation by Innovation Refunds. Pre-qualification is not a guarantee of approval. Core Bank is not affiliated with Innovation Refunds and makes no representation or warranty as to the quality, accuracy, or reliability of the Innovation Refunds website.

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