The strategic partnership brings trusted Employee Retention Credit expertise to over 500 member credit unions across the United States
Innovation Refunds, a SOC2 Type 1 certified financial solutions provider dedicated to supporting small and medium-sized businesses (SMBs), announced a new partnership with InterLutions, a credit union service organization (CUSO) delivering collaborative business services to credit unions. The collaboration expands resources for both credit unions and their business members looking to claim capital to grow their businesses through the Employee Retention Credit (ERC), a tax credit that provides eligible small and medium-sized employers with a refund through the CARES Act.
Through the partnership, InterLutions’ member credit unions and their business members can receive support from Innovation Refunds to determine their potential eligibility for the ERC with no up-front fees. Eligibility determinations are processed by independent tax attorneys and underpinned by over 50 payroll and accounting integrations to streamline the filing process.
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“We’re thrilled about our new partnership with InterLutions, helping their eligible member credit unions and small businesses apply for a tax refund to grow their businesses through our ERC capabilities. This rapidly expands our list of our credit union partners including St Mary’s Bank Credit Union — the first credit union in the U.S., and we’re looking forward to being able to provide more community members with the information and resources they need to support their small business,” said Howard Makler, CEO and co-founder of Innovation Refunds. “We look to InterLutions as a leader in the space, who understands the needs of their members and their members’ clients and the demand for trusted professionals in the ERC space.”
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“It is critical for credit unions and their business members to find a trusted professional in the ERC space who acts with integrity and discipline,” stated Jesse Kohl, President of InterLutions. “With so much misinformation surrounding ERC, our CUSO believed it was necessary to partner with an entity that has amassed a network of independent tax attorneys to navigate the tax code and help employers submit claims and refunds.”
The ERC is a tax credit that can provide eligible small and medium-sized employers with a tax refund. As quarterly rollbacks begin to limit ERC claims in the coming months, the Innovation Refunds team aims to serve as a voice of education.
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