Innovation Refunds Review

Pros

• Free audit support
• Dedicated account specialists
• Free, no-obligation ERC analysis
• No upfront payments

Cons

• Expensive fees
• Must have at least four full-time employees

What Is Innovation Refunds?

Innovation Refunds is an Employee Retention Credit (ERC) tax specialist. Innovation Refunds specializes in helping small and medium-sized businesses that were affected by the COVID pandemic claim their ERC refunds. Innovation Refunds has a quick, secure process that takes the guesswork out of ERC guidelines and IRS tax codes, helping businesses receive the funds they’re owed.

Innovation Refunds has helped over 14,000 businesses claim over $4 billion in payroll tax refunds. The company works with CPAs and tax attorneys to ensure that your return is filed correctly, calculations are accurate, and you get the support you need if audited. Integrations with accounting and payroll software and excellent customer reviews add to the reasons why Innovation Refunds is a top ERC tax specialist.

Innovation Refunds Services

Innovation Refunds specializes in ERC claims and refunds. Unlike some of its competitors, Innovation Refunds doesn’t offer additional tax services, accounting, bookkeeping, or other services.

This may be a drawback for businesses that want a more comprehensive tax or financial solution, but businesses that want a streamlined claims process with specialists who are well-versed in ERC guidelines will find what they need with Innovation Refunds.

Innovation Refunds Fees

Innovation Refunds’ fee is 25% of your ERC refund. There are no setup costs or hidden fees. This ERC fee is a bit on the higher side (as some ERC companies may only charge 10% to 15%), which we took into account for our rating. However, it isn’t the most expensive fee, and pricing is pretty competitive when you consider that your claim will be handled by a CPA or tax attorney and includes ERC audit support, which can be invaluable down the road.

No money is paid upfront, and your fee is taken only after your ERC refund check is issued. A free, no-obligation analysis to determine if you qualify for ERC is available.

Innovation Refunds Features

Several benefits make Innovation Refunds stand out in the industry. The only things it lacks (as reflected in our rating) are ERC advances and additional tax services.

The most notable features include:

• Dedicated Account Specialists: You’ll work with a dedicated account specialist who will work to maximize your refund and file your claim efficiently, all while answering your questions along the way.
• Free Analysis: You can receive a free analysis to see if you qualify for ERC by filling out an application that takes just eight minutes.
• No Upfront Payments: You won’t be required to make any payments upfront. Innovation Refunds only gets paid when you do.
• Free Audit Support: Innovation Refunds has a network of tax attorneys to provide audit support if needed at no additional cost.
• Secure Portal: You can upload your documentation easily and securely through Innovation Refund’s client portal.
• Payroll & Accounting Integrations: Innovation Refunds integrates with over 50 payroll and accounting programs, including Wave, Sage, Stripe, QuickBooks, and FreshBooks.
• Basic Refund Calculator: Innovation Refunds has a basic ERC refund calculator on its website that lets you quickly see how much money you can potentially receive.
• Referral Program: Through Innovation Refunds’ referral program, you can earn a $1,000 VISA gift card for each referred ERC claim submission.

Innovation Refunds ERC Refund Process & Timeline

We rated Innovation Refunds highly for its easy application process and fast claim processing. Innovation Refunds simplifies and expedites the ERC claim process. You can get started by providing information about yourself and your business through the company’s online application. The application process takes less than 10 minutes, and there is no charge to determine if you qualify for ERC. One thing to note is that Innovation Refunds only works with businesses that have four or more full-time employees.

After receiving your estimate and opting to move forward, you will submit your documents through Innovation Refunds’ secure portal. Innovation Refunds works behind the scenes to complete and file your forms while providing you with status updates. Once all forms are filed, you simply have to wait for the IRS to issue your refund check, which can take a minimum of four months.

Innovation Refunds doesn’t specify the average time it takes to file a claim. However, user reviews indicate that in most cases, the process is fast and streamlined.

Innovation Refunds Customer Service

Innovation Refunds offers several ways to get in touch, including an online application, online form, email, and by phone. There is a chat option on the website, but it does not allow you to speak to a live representative. It does, however, answer basic questions. Having a more extensive knowledgebase is also something we’d like to see, which we factored into our rating for customer service. Innovation Refunds has a company blog with useful ERC posts, as well as social media profiles on Facebook, Twitter, LinkedIn, and Instagram.

Innovation Refunds provides its clients with dedicated account specialists. Overall, clients are pleased with the service they receive from these specialists, noting in reviews that the team is knowledgeable, friendly, professional, and quick to provide updates throughout the claim process.

Innovation Refunds Reviews

Innovation Refunds has an excellent public reputation, garnering numerous positive reviews from its past and current customers. Innovation Refunds has a rating of 4.79/5 (based on 120+ reviews) from the Better Business Bureau, where it is also accredited and holds an A+ rating. The company has earned 4.8/5 stars (based on 470+ ratings) on Trustpilot and 4.9/5 stars (based on 360+ ratings) on Google.

Innovation Refunds Complaints

Though Innovation Refunds holds a high rating among its customers, there are a handful of negative reviews. The company has had six complaints with the BBB in the last three months and has responded to and/or resolved these complaints. The most common complaints about the company are:

• Expensive fees
• Requires a minimum number of employees
• No explanation was provided for disqualification
• Some customers didn’t have a single point of contact, or the contact was unable to be reached in a timely manner

Positive Innovation Refunds Reviews

Overall, Innovation Refunds has earned praise from its clients, who most like:

• Easy, time-saving process
• Responsive & helpful specialists
• Timely updates
• Fast approvals & filing

Is Innovation Refunds Worth It?

Innovation Refunds charges a 25% fee for its services, which is a little steep when compared to ERC companies with more competitive rates like ERC Specialists, which only charges 10% to 15% of your ERC refund. Innovation Refunds also doesn’t work with businesses with fewer than four employees, so very small businesses may want to look at other options like Lendio.

Despite these drawbacks, however, Innovation Refunds is a solid choice for processing your ERC claims. A free analysis, dedicated account representatives, built-in audit support, an easy application process, and excellent customer reviews make Innovation Refunds a solid contender in the industry, landing it among the best ERC companies.

Innovation Refunds FAQs

ERC Company Review Methodology

We spend hours researching and evaluating each ERC company that we review at Merchant Maverick, placing special emphasis on key characteristics to generate our service provider ratings.

When rating ERC companies, we use a 22-point rubric that looks at fees, features, refund process and timeline, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

• Fees: 20% of the total star rating
• Features: 30% of the total star rating
• Refund Process & Timeline: 35% of the total star rating
• Customer Service: 5% of the total star rating
• User Reviews: 10% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we look at specific attributes, like whether reduced fees are available for upfront payments, the availability of ERC loans and advances, audit protection, and no-cost ERC consultations.

Learn more about how we rate ERC providers.

The Merchant Maverick Seal of Approval 🏆

Innovation Refunds	Visit Site

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Innovation Refunds for yourself.

The Merchant Maverick Seal of Approval 🏆

Innovation Refunds	Visit Site

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Innovation Refunds for yourself.