What Innovation Refunds does

Innovation Refunds LLC is a US-based consulting firm founded in 2021 that helps small and medium-sized businesses identify, qualify for, and claim federal and state tax credits and government incentives. The company's primary offering is Employee Retention Credit (ERC) claims assistance, complemented by adjacent credit lines including Section 41 Research & Experimentation credits, Section 179D energy-efficient commercial building deductions, hiring-based incentives, Federal HUD Zone credits, state location-based credits, and employee reimbursement incentives. Service delivery combines a web-hosted user interface and the Tax Status third-party monitoring platform (which tracks ERC claim status with the IRS, including identity verification protocols) with engagement by independent tax professionals — CPAs, tax preparers, and tax attorneys — sourced through a referral network.

The company is privately held and domiciled in Delaware, with operational headquarters at 6400 Westown Pkwy, Suite 260, West Des Moines, Iowa, and a related corporate office at 4350 Westown Pkwy, Ste 300. Leadership comprises co-founders Howard Makler (CEO) and Sean Kon (Chief Innovation Officer), alongside President Rodney Rad and General Counsel Karen Anapoell. IR Advance LLC is disclosed as a related financial services subsidiary. The company has served thousands of SMBs since inception and holds BBB A+ accreditation.

The revenue model is professional services / fee-based: Innovation Refunds assesses SMB eligibility for incentive programs, collects documentation, calculates credits, and charges fees tied to benefits procured, with fee refunds offered if credits are denied. Tax Status monitoring is provided to customers as a complimentary service, with the company absorbing the cost. Go-to-market is sales-led, combining direct SMB acquisition through the company website and digital channels (blog, social, paid acquisition that was paused during the 2023 ERC moratorium) with an inbound referral pipeline from independent tax professionals who use the firm as an extension of their practice. No external institutional investment or PE/VC backing is disclosed in the source data.

Name

Innovation Refunds

Legal name

Innovation Refunds LLC

Website

https://innovationrefunds.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

Innovation Refunds is a US consulting firm that helps small and medium-sized businesses identify and claim federal and state tax credits and government incentives — primarily the Employee Retention Credit — via fee-based professional services delivered through a network of independent tax professionals.

Ownership category

akta.pro rank

Headquarters

HQ city

West Des Moines

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Others

Revenue model

1. Tax Credit Consulting Services: Innovation Refunds provides consulting services to assist SMBs with claiming tax credits and government incentives. The company determines company qualification for specialized incentive programs, collects documentation to determine company utilization, and establishes total fees to procure benefits. Tax monitoring is provided as a complimentary service at no additional cost to customers, with Innovation Refunds paying for this service on behalf of customers.
2. Fee-based Tax Refund Services: The company charges fees for its consulting and tax credit retrieval services. If any credit calculated is denied for any reason, Innovation Refunds will refund that portion of its fee.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Innovation Refunds is a consulting firm that helps small and medium-sized businesses identify, qualify, calculate, and claim tax credits and government incentives — most prominently the Employee Retention Credit (ERC). The company evaluates eligibility, collects documentation, and procutes the benefits on behalf of clients, supported by its Tax Status platform that tracks ERC claim status with the IRS at no additional cost to customers.

Product overview

Innovation Refunds is a fintech consulting platform that helps small and medium-sized businesses identify and claim tax credits and government incentives. The company operates primarily through its Tax Status platform for ERC claim monitoring, combined with consulting services for various tax credit programs including Employee Retention Credit (ERC), Section 41 R&D Credits, Energy EP Act 179D, hiring-based incentives, HUD zone credits, state location-based credits, and employee reimbursement incentives. The core offering centers on ERC claims assistance with tax monitoring as the primary technology-enabled service.

Differentiator

Problem solved

Functional benefit

Brands

• Tax Status: A third-party tax monitoring platform that allows tracking of ERC claim status with the IRS.

Quantifiable outcome

• Thousands of SMBs assisted since 2021

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• Intuit: Owner of TurboTax and QuickBooks serving SMBs with tax, accounting, and credit tools. Indirect competitor through embedded SMB tax credit features and scale advantages.
• H&R Block: Large incumbent tax preparation franchise with SMB and consumer tax services. Overlaps indirectly through tax credit identification but does not specialize in SMB incentive consulting.

Direct peers

• ERC Today: ERC-focused consulting firm that helps SMBs evaluate and claim Employee Retention Credits. Most direct competitor given near-identical ERC-first service proposition and SMB target market.
• Bottom Line Concepts: Consulting firm that identifies and procures government incentives, R&D credits, and ERC claims for SMBs. Comparable diversified tax credit portfolio and SMB customer base.
• Alliant Group: Tax credit and incentives consultancy specializing in R&D, energy, and hiring credits for SMB and mid-market clients. Comparable professional services model and credit mix.
• Boast AI: AI-enabled R&D tax credit platform serving SMBs and mid-market companies. Comparable technology-augmented tax credit offering, particularly in the Section 41 R&D overlap.
• Pilot.com: Tech-enabled bookkeeping and tax services for SMBs with embedded tax credit identification. Comparable SMB customer base and software-plus-service delivery model.
• Bench: SMB-focused financial services platform combining bookkeeping, tax, and advisory. Comparable SMB target segment and ongoing advisory relationship model.
• Massey Consulting: Accounting and consulting firm with ERC and tax credit practices serving SMBs. Comparable consulting-led delivery and ERC specialization.
• Keeper: R&D tax credit software platform for SMBs that automates study documentation and filing. Comparable product overlapping in Section 41 R&D credit services.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/getrefunds
• Facebookfacebook.com/innovationrefunds
• LinkedInlinkedin.com/company/74399983
• Instagraminstagram.com/innovation_refunds/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovation Refunds