Currently Accepting Applications for the
Credit for Sick and Family Leave
for the Self-Employed
Credits for Sick and Family Leave for the Self-Employed
Claim up to $32,200 in SETC Tax Credits Today.
There’s money on the table – the question is, will you claim it? Don’t miss out! Claim up to $32,200 in tax relief through the Self-Employed Tax Credit (SETC). This program is specifically designed to help self-employed individuals like you who faced income loss due to COVID-19.
See if you qualify and get started on your application in minutes. Take advantage of this valuable financial lifeline and put money back in your pocket today!
Introducing the Self-Employed Tax Credit (SETC)
Officially Known as the Credits for Sick and Family Leave for the Self-Employed
The SETC is a specialized tax credit designed to provide support to self-employed individuals during the COVID-19 pandemic. It acknowledges the unique challenges faced by those who work for themselves, especially during times of illness, caregiving responsibilities, quarantine, and related circumstances. This credit can be a valuable resource for eligible individuals to help bridge financial gaps caused by unforeseen disruptions.
Almost everybody with schedule C income qualifies.
Amidst the pandemic, millions grappled with COVID-related challenges, including illness, symptoms, quarantine, and care-giving responsibilities. If you found yourself in such situations, where COVID impacted your ability to work, the SETC was designed to be your safety net, but it’s not too late.
You may be eligible for up to $32,220 in tax credits from 2021
- Self-Employed Status:If you were self-employed in 2021, you could potentially qualify for the SETC. This includes sole proprietors who run businesses with employees, 1099 subcontractors, and single-member LLCs. If you filed a
“Schedule C” on your federal tax returns for 2021, you’re on the right track. - COVID Impacts:Whether you battled COVID, experienced COVID-like symptoms, needed to quarantine, underwent testing, or cared for a family member affected by the virus, the SETC could be your financial relief. If the closure of your child’s school or daycare due to COVID restrictions forced you to stay home and impacted your work, we’re here to help.
Calculate and Discover your potential
Tax Credit Refund Amount.
If you experienced any COVID-related disruptions to your business, you could qualify for the SETC. This includes illness, symptoms, quarantine, testing, and caregiving responsibilities. If you were forced to stay home due to the closure of your child’s school or daycare, you could qualify as well.
Discover how much you could receive in tax credits by entering your information into our calculator. You could recover up to $32,220 in tax credits from 2021!
Frequently Asked Questions About the
Credits for Sick and Family Leave for the Self-Employed (FFCRA/SETC Tax Credit)
Eligibility for the Self-Employed Qualified Sick & Family Leave Wage Credits requires meeting specific criteria. This encompasses individuals operating as self-employed, including sole proprietors, independent entrepreneurs, freelancers, gig economy participants, 1099 contractors, and owners of single-member LLCs. Additionally, candidates must have submitted a Schedule SE with their IRS Form 1040 for the tax years 2021, demonstrating positive net earnings and the contribution towards self-employment taxes on those earnings. Eligibility also depends on having been unable to work for reasons directly associated with COVID-19.
Indeed, there is a specific timeframe within which you must amend your tax returns from 2020 and/or 2021 to claim or modify your Qualified Sick & Family Paid Leave wage credits. This period extends to three years following the initial filing deadline of the respective tax return. Consequently, the final date to amend your 2020 tax return to claim these credits falls on April 15, 2024, while for the 2021 tax return, the deadline is April 15, 2025.
Does the Qualified Sick & Family Paid Leave wage credit represent a loan or grant? Do I have to repay anything?
The Qualified Sick & Family Paid Leave wage credit is neither a loan nor a grant, but rather a tax credit designed to mitigate the financial burden experienced by self-employed individuals due to COVID-19. Similar to how mandatory paid leave supports employees, this tax credit compensates for earnings lost owing to illness, caregiving responsibilities for someone with COVID-19, or other pandemic-related work disruptions, thereby easing the economic strain on affected individuals.
Eligibility for Covid-related compensated leave spans distinct periods: initially, up to 60 days or 12 weeks from April 1, 2020, to March 31, 2021. Subsequently, an extended phase allows for up to 70 days or 14 weeks, starting from April 1, 2021, through to September 30, 2021.
In the United States, the Internal Revenue Service (IRS) categorizes an individual as self-employed if they meet any of the following criteria:
They operate a trade or business as either a sole proprietor or an independent contractor.
They contribute as a partner in a partnership engaged in a trade or business.
They conduct any form of business independently, including running a part-time enterprise or working as a gig economy participant.
Unfortunately, Gig Workers Solutions does not assist individuals who receive W2 income in applying for the SETC. However, you might still be eligible for this credit if your employer has claimed the ERTC on your behalf. For advice tailored to your unique circumstances, it’s recommended to consult with a Certified Public Accountant (CPA).
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