Compliance-driven tax credits

We help empower eligible small and medium-sized businesses with access to tax credits through processes that are designed with security, compliance, and risk management controls in mind.

Our business verification process

Our approach to helping businesses is designed to ensure meticulous analysis and compliance. We utilize a rigorous process to review and confirm the details of business entities engaged with us. This process involves an internal quality assurance review of potential customers using the following steps:

Comprehensive information gathering and customer profile vetting

We gather intake information, followed by a request for additional information from our customers, ensuring that their profiles are thoroughly vetted and compliant with all necessary regulations.

Business fundamental details submission

Customers are asked to provide key information about their business such as their legal company name, Employer Identification Number (EIN), business address, and their status as a sole proprietor if applicable.

Official document validation

Customers are asked to submit official documents to validate this information, including a Certificate of Good Standing from the Secretary of State, an IRS-issued letter or W-9 form, among other documents.

Address verification and identity confirmation for sole proprietors

We also ask for proof of the business's physical and/or mailing address, which can be a utility bill, a bank statement, or any formal documentation indicating the address. If the customer is a sole proprietor, we require them to provide a Social Security Number and a copy of a valid ID.

Our team is trained to follow up on these requests, helping to ensure timely submission of information and resolution of any discrepancies. If a customer fails to provide the requested documentation or provides insufficient or outdated documents, we take the necessary steps to inform them and guide them through the process of obtaining and submitting the correct documents.

Upholding integrity and compliance standards

Our commitment to compliance drives our daily operations and decision-making process. Integrity, to us, means conducting business with honesty, transparency, and respect, always considering the best interests of our customers, employees, and stakeholders.

We've integrated ethical practices and standards into our corporate culture, providing regular training, helping to ensure that every team member understands and upholds our principles. We've also implemented rigorous internal audits and controls designed to detect and prevent any deviations. Through these actions, we strive to foster a culture that truly embodies integrity and compliance.

Our internal trainings

Understanding processes

Our training courses are structured to cover a wide range of topics, including  the processes our independent tax professionals follow when processing claims.

Compliance and ethics 

We focus on company ethics and the importance of compliance in our day-to-day operations. It’s not just about following the rules, but training our team to go beyond the minimum that’s required and do what’s right for our customers.

Our approach to cybersecurity

Understanding cybersecurity risks

Our training provides an in-depth understanding of different cybersecurity threats. Our team learns to identify potential threats and understand the risks associated with them.

Prevention and response strategies

We equip our team with prevention strategies to help avoid falling victim to cybersecurity risks. In the event of a potential threat, we train our team on the necessary response actions designed to mitigate the risk.

Simulated phishing attacks

We conduct simulated phishing attacks to provide practical experience to our team. This hands-on approach aims to equip our team to deal with real-life situations.

Secure and ethical practices

We stress the importance of secure handling of sensitive data and encourage ethical behavior to help prevent any inadvertent violation of cybersecurity norms.

How our independent tax professionals determine ERC eligibility

While we do not provide tax or legal advice, our independent tax professionals help determine eligibility for various benefits by following a detailed process that leverages their extensive knowledge of IRS regulations and the specifics of each customer's situation.

Initial assessment

Conduct an initial assessment to collect information about the customer’s business operations, the impact of government orders on the business, gross receipts, and the number of full-time employees.

Document review

Review all documents, narratives, and information provided by the customer to assess whether the business meets the qualifying criteria. This might include financial statements, employee payroll records, and documentation of business disruptions due to government orders.

Consideration of limitations

Evaluate any limitations on claiming the ERC for certain wages, as well as how the ERC interacts with other COVID-19 tax credits and PPP loans. They take into account the specific rules for different years (2020 and 2021) to ensure accurate calculations and compliance with IRS regulations.

Evaluation of unique circumstances

Consider unique circumstances that could affect eligibility, such as the aggregation rules, eligibility of owners and family members, and other special situations.

Calculation of ERC refund amount

Once eligibility is confirmed, the ERC refund amount is calculated. This calculation is based on factors like qualified wages, health plan expenses, and other qualifying costs as outlined by IRS requirements.

Form 941-X preparation

Prepare the Form 941-X, which is the actual request form to the IRS for your refund. Customers are required to thoroughly review and sign these forms before submission.

Our SOC 2 Type 1 Certification

Keeping your data safe is of the highest importance to us at Innovation Refunds. That’s why we’re proud to have earned the System and Organization Control (SOC) 2 Type 1 designation.

Grey quote graphic
We have our operations and data security procedures reviewed by third parties to assure our customers that we take their data and their business seriously. SOC 2 Type 1 compliance is further evidence that Innovation Refunds does things the right way when it comes to supporting small and mid-sized businesses, the companies that are the backbone of the American economy.

Howard Makler

Founder & CEO

What is SOC 2 Type 1?

SOC 2 Type 1 is a cybersecurity audit to confirm that an organization's privacy and security measures are designed to meet the AICPA's trust criteria:

Security: Protection against unauthorized access and damage to systems.

Availability: Keeping systems operational to achieve objectives.

Processing integrity: Ensuring system processing is complete, timely, and accurate.

Confidentiality: Safeguarding confidential information.

Privacy: Proper handling of personal information.

Audited controls

With audited internal controls, we can offer security and efficiency across our organization that has been certified against a rigorous standard set forth by the AICPA. Checking and double-checking all of our systems, software, policies, procedures, people, and processes is ultimately done to benefit our customers.

Providing peace of mind

We underwent all this so you’ll know that your sensitive information is in good hands. As your trusted service provider,  we practice data security protection practices, designed to improve your overall experience.

*Innovation Refunds works with a team of independent tax professionals. Innovation Refunds does not provide tax or legal advice. Terms & conditions apply.

Our advanced payroll and accounting integrations

Our commitment to security and efficiency is a top priority. We utilize advanced encryption technologies and undertake rigorous audits regularly to affirm the integrity of our payroll and accounting integrations.

This process is designed to:

  • Securely connect to your accounting and payroll software to collect necessary documents.

  • Retrieve key information directly from your business’ payroll system for specified periods.

  • Pull employee-level data to calculate potential eligibility.

  • Auto-populate key business data the IRS may require.

Our technology streamlines your application intake process to provide accuracy, efficiency, and compliance with changing regulations.