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2023 Update: Employee Retention Credit and Innovation Refunds

eoe86 by eoe86
February 9, 2023
in Banking
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2023 Update: Employee Retention Credit and Innovation Refunds
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Payroll Tax Refund

You have big dreams for your business in 2023. Be sure that you didn’t miss out on the payroll tax ERC refund opportunity after going through the impact of Covid-19. Core Bank has partnered with Innovation Refunds, an expert FinTech provider to help businesses unlock more government incentives and substantial cash refunds. Businesses may qualify for up to *$26,000 per eligible employee on your payroll with the Employee Retention Credit (ERC). Your business could be owed thousands. It takes just one application to possibly get thousands back.

There is a limited window of time to claw back the money which is rightfully owed to you. The program could run out of allocated funds at any time and is subject to the whims of congress.

The IRS expects 70% – 80% of small and medium businesses to qualify. Determining the proper amount that you are entitled to is a complex accounting process. One of the reasons that we chose 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 properly unlock these government incentives is Innovation Refunds’ specialty.

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 a percentage of the money that you receive from the government.

The maximum value a business can claim starts to decrease in 2024 and gets smaller each quarter. Qualifications and limitations have been amended multiple times, so don’t let your business miss its chance to make a claim. As more small businesses discover the ERC, the processing times may increase.

Don’t delay! 

Apply today for a payroll tax rebate >>

 

*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.

The post 2023 Update: Employee Retention Credit and Innovation Refunds appeared first on Core Bank.

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