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Do you have a network of small-to-medium-sized businesses (SMBs)?
Do you know what the ERC is? And do you want to potentially make money on this knowledge?
Then, our ERC referral programs may be for you.
We offer two ways to help others take advantage of this program – our ERC affiliate program (for those with strong SMB networks) and our Refer & Earn program (for those looking to help friends and family).
These programs allow participants to make referrals to us — and earn commissions from qualifying referrals.
Who are we? Innovation Refunds works with a team of independent tax professionals to help eligible businesses claim a payroll tax refund through the Employee Retention Credit.
What’s the ERC? Per the IRS, the Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay employees while experiencing suspended operations due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020, to Dec. 31, 2021.
Our mission? To assist eligible SMBs in applying for the ERC – with a simple, fast approach to claiming the refund. That’s why we have a network of independent tax attorneys and tax professionals to review ERC eligibility requirements in detail.
What is the ERC Affiliate Program?
Do you run a business that serves SMBs?
Our ERC affiliate program is for anyone that has connections to SMBs. For example, CPA firms, tax attorneys, affiliate marketers, financial institutions, etc. It’s a great way to become a hero for your clients, and earn a great commission in the process.
There are many benefits to becoming an ERC affiliate through our referral program – from earning commissions on qualifying referrals to helping eligible businesses in your network unlock a potentially significant refund per employee.
There is no “selling” involved. All you do is introduce them to Innovation Refunds. If they’re eligible and sign our invoice, you could earn a commission!
Plus, there’s a huge untapped market. Due to shifting ERC regulations, plus the complexity of qualifying, many businesses are unaware they may be eligible – and have yet to apply.
What is the Refer & Earn Program?
So, you don’t own a business, but you know a lot of business owners.
Apply to join our Refer & Earn program. If accepted, you’ll team up with Innovation Refunds and – if your referred business is eligible and works with Innovation Refunds – you’ll get a $1,000 gift card within 45 days after the referral signs our invoice.
It’s really simple:
- First, you apply for Refer & Earn. If accepted, you will then receive an email with your unique link.
- Next, you share this link with friends or companies you think may qualify.
- If your referral qualifies and agrees to work with us, when your referral signs our invoice, you’ll get a $1,000 Gift Card per claim.
Which is the right ERC partner program for you?
The ERC affiliate program is designed for anyone with a strong network of SMBs.
The Refer & Earn program is for individuals.
Are you working with small or medium businesses?
ERC qualifications for SMBs can vary, depending on the business size and number of employees on payroll.
2020 ERC qualifications: Maximum full-time employee count on your payroll in 2020 was less than 100.
2021 ERC qualifications: Maximum full-time employee count on your payroll in 2021 was less than 500.
Did the business keep employees on payroll during the pandemic?
According to the IRS, The ERC is made for “businesses that continued to pay employees while shut down due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020, to Dec. 31, 2021.”
However, some of our clients did not experience a shut down and qualified for the ERC under limited commerce. To learn more about eligibility and other information related to our services, check out our Frequently Asked Questions.
Did the business experience suspended operations during the pandemic?
If a business experienced any of the following, it might meet the criterion to qualify.
- If it experienced a direct government order (to fully suspend its business)
- If it experienced a partial shutdown (any limitation to the ability of a business to provide its services at full capacity)
According to the Bureau of Labor Statistics, “Nationwide, 52 percent of establishments (4.4 million) told employees not to work (with or without pay) during the pandemic.
What are considered changes in business operations?
Nearly anything that interrupts your daily workflow classifies as “changes in business operations.”
Some noteworthy examples:
- Changes in job roles
- Employee and customer face coverings
- Occupancy restrictions due to social distancing
- Appointment-based only operations
- Modification in business hours
Remember, many factors are considered “changes in business operations,” so it’s wise to consult with an ERC Company like Innovation Refunds.
Was the business negatively impacted by the pandemic in 2020 or during the first three quarters of 2021?
Overall, the ERC is available to “eligible businesses that experienced a decline in gross receipts or were closed due to government order.”
How does the IRS qualify this decline? If the business lost at least 50% of gross receipts in 2020 or at least 20% in 2021 when compared to the same quarter in 2019.
Don’t worry, though. Some business owners are aware of only this reduction in revenue criterion. However, businesses may qualify if they experienced partially suspended operations.
Did the Business qualify as a recovery startup business in the third and fourth quarters of 2021?
If your business opened after February 15, 2020, it may qualify.
According to the IRS, “A recovery startup business can still claim the ERC for wages paid after June 30, 2021, and before January 1, 2022. Eligible employers may still claim the ERC for prior quarters by filing an applicable adjusted employment tax return within the deadline set forth in the corresponding form instructions.”
Under the American Rescue Plan Act, businesses that launched after February 15, 2020, are eligible – if their annual gross receipts did not surpass $1 million for the individual in 2020 and 2021. The business must employ one or more W2 employees.
If the business claimed PPP, can they still be eligible for the ERC?
Originally, the ERC was not accessible to business owners who claimed PPP. However, the Consolidated Appropriations Act made it possible for businesses to qualify for the ERC, even if they claimed a PPP loan. However, the ERC cannot be claimed on wages paid with the funds from a forgiven PPP Loan.
*Innovation Refunds works with a team of independent tax professionals. We will share your information with these professionals to evaluate and process your claims. Innovation Refunds does not provide tax or legal advice. Terms & conditions apply.