Blackhawk Bank Assists Local Businesses Determine if They Qualify for Employee Retention Credit

May 3, 2022 (Beloit, WI) – Blackhawk Bank announced a new partnership with Innovation Refunds to help businesses determine if they qualify for the Employee Retention Credit (ERC) directly through the Blackhawk Bank website.

The ERC is born out of the same COVID-19 relief bill as the Paycheck Protection Program (PPP), which incentivized businesses who kept employees on payroll during the pandemic. This tax credit offers financial relief to businesses who were affected by COVID-19, as it returns payroll taxes back to employers.

In the past, companies were limited in their ability to claim both PPP and ERC funds. However, recent legislation has made it possible for businesses to claim the ERC even if they received PPP funds.

“As a community bank, we know just how challenging the last two years have been for businesses who were affected by COVID-19,” says Dave Adkins, President & CEO Blackhawk Bank. “The ERC is a great way for owners to gain much-needed tax refunds for their business so that they are better prepared to navigate the current economic environment.” If companies have the knowledge and resources to navigate the process for themselves, they can certainly apply for it, but Adkins said, “Our first priority has always been the success of our clients and the communities we serve, which is why we wanted local businesses to have easier access to the program and quickly determine if they qualify to receive a refund.”

Blackhawk Bank has provided resources and FAQs about the ERC, as well as instructions on how businesses can qualify, directly on their website. To learn more about the ERC or to determine if you qualify, click here.

About Blackhawk Bank

Established in 1881, Blackhawk Bank has served individuals, families and business owners for 141 years. The Bank operates twelve full-service banking centers in Beloit and Janesville, Wisconsin and in Rockford, Belvidere, Machesney Park, Roscoe, McHenry, Island Lake, Richmond, and St. Charles Illinois. The Bank also operates a Mortgage Processing Center in Roscoe, Illinois. Complete information about Blackhawk Bank can be found at www.blackhawkbank.com.  Member FDIC | Equal Housing Lender