Employee Retention Credit Program

Liberty partnered with Innovation Refunds, an expert FinTech provider, to help many of our clients unlock additional government incentives and cash refunds for qualified businesses impacted by COVID-19.

Recently, beginning on September 14, 2023, the IRS announced they have stopped accepting new applications through at least the remainder of this year. If your application was submitted prior to 9/14/23, please contact your Lender to discuss its status. 


Frequently Asked Questions

What is the ERC - Employee Retention Credit?

ERC is a payroll tax refund born out of the same COVID 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.

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.

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.

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

For Liberty customers, 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.

On Sept. 14, 2023, the IRS stopped accepting new applications through the remainder of this year. If your application was submitted prior to 9/14/23, please visit with your Lender to discuss its status.

We have a wide variety of business checking accounts to choose from with your interest in mind. You can compare them here and make an appointment to open your account today.


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

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

To deposit the funds with Liberty you must open a Liberty​​​​​​​ Business Checking Account if you do not already have one.