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March 30, 2023

Payroll Tax Rebate Available Now!

You may qualify for up to $26,000 per eligible employee with the Employee Retention Credit (ERC).

If your business was affected by COVID-19 we have good news for you! The Bank of Elk River has partnered with Innovation Refunds, an expert FinTech provider to help you unlock more government incentives and substantial cash refunds!

Get Your Refund Estimate in Four Simple Steps!


Qualify by filling out the quick
8-minute application.


Upload supporting documents to Innovative Refund's secure portal.


Get your docs reviewed by their specialized CPAs.


Check your projected refund amount for FREE!

Don't delay, time is of the essence!

The numbers speak for themselves



  • What is the ERC - Employee Retention Credit?

    ERC is a payroll tax refund born out of the same COVID-19 relief bill as PPP which incentivized businesses who kept employees on payroll during the pandemic. Originally, companies were limited in their ability to claim either PPP or ERC but not both. In early 2021 the rules changed and now your business can claim ERC even if you received PPP funds. That’s great news.

  • How is ERC different from PPP?

    PPP was a forgivable loan. ERC returns to the business payroll taxes they already paid. Once you receive the ERC funds from the US Treasury no further action is required on your part.

  • How do you know if you qualify?

    Digging deeper, the rules provide two different ways to qualify based on negative impacts from COVID-19. In 2020 and/or 2021 did your business experience either: (a) limitations of commerce, travel or group meetings, or (b) a significant decline in revenue? If you answered yes to either of these your business may likely qualify.

  • How is the refund calculated?

    Determining the proper amount that you’re entitled to is a complex accounting process that requires an expert similar 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.

  • Is there a cost?

    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.

The Bank of Elk River is not affiliated with Innovation Refunds and makes no representation or warranty as to the quality, accuracy, or reliability of the Innovation Refunds website.

*Subject to Tax Evaluation by Innovation Refunds. Pre-qualification is not a guarantee of approval.