Self Employed Tax Credit
Get up to $32,220
1099 Contractors and Self Employed Business Owners Affected By COVID-19 Can Get Federal Tax Refunds Immediately
SEE HOW MUCH YOU QUALIFY FOR INSTANTLY
What's SETC?
(Self-Employed Tax Credit)
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.
Maximum Self-Employment
Tax Credit of up to $32,220!
3-Step Process
Get Qualified Instantly
If you’re self employed and Impacted by COVID-19 during the pandemic, chances are you qualify for this special program. Click the Instant Estimate form .
File Your Claim
We’re here to help you every step of the way. Our experts will complete all your paperwork and file your claim with the IRS on your behalf, even if you already filed your 2020 and/or 2021 taxes.
Receive Your Money
Sit back and relax knowing your money is on the way. You’ll receive your refund directly from the IRS. Most clients receive their money within 8-14 weeks.
If you are self employed, a 1099 contractor, a freelancer, or a small business owner and file a 1040 tax return with attached schedule C and your business was affected by Covid in 2020 and/or 2021, we provide survey questions to calculate how much your tax credit you're going to receive from the IRS.
Calculate Your Estimated Credit
ZERO RISK POLICY
We provide you with exceptional service and get you the tax credit you deserve. If, for any reason we aren’t able to secure your refund, you pay nothing. We assume all the risk.
Are you eligible for a refund of less than $1,000 from the Self-Employed Tax Credit?
We understand the filing fee to amend your taxes might feel steep. Here's our offer:
Refer three paying customers to our service, and we'll file your amendment for FREE!
🔗 See our FAQs below to learn more about our special referral program and how we're supporting the self-employed community.
Terms apply. Referrals must become paying customers.
INSIGHTS
New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA R-2021-31, February 8, 2021
WASHINGTON — The Internal Revenue Service announced today that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA).
Eligible self-employed individuals will determine their qualified sick and family leave equivalent tax credits with the new IRS Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed IndividualsPDF. They'll claim the tax credits on their 2020 Form 1040 for leave taken between April 1, 2020, and December 31, 2020, and on their 2021 Form 1040 for leave taken between January 1, 2021, and March 31, 2021.
Is There a Tax Credit for Self-Employed Workers Affected by the Coronavirus?
The Families First Coronavirus Response Act (FFCRA) came to the rescue for many self-employed taxpayers during the pandemic. The act, signed into law on March 18, 2020, initially provided tax credits to eligible taxpayers who could not work from April through December 31, 2020, due to COVID-19. The credit was extended to March 31, 2021. This carryover period from January through March 31, 2021, allowed eligible taxpayers to claim any unused sick leave or paid leave credits from 2020. The FFCRA laid the ground rules for how the credits worked, who is eligible, and how the credit is calculated.
On March 11, 2021, President Joe Biden signed the American Rescue Plan Act. This extended the tax credits for self-employed workers through September 30, 2021. This means that taxpayers affected April 1 - September 30, 2021, can claim the credits on their 2021 tax return.
Below, we break down the credits available for self-employed taxpayers under FFCRA.
New form from IRS lets the self-employed claim sick and family leave tax credits
The Bureau of Labor Statistics counts self employment in different ways, but estimates that there are close to 10 million, with projections that this number will grow by 8% each year for the foreseeable future. And while much of the COVID-relief packages have been focused on businesses and families, little media attention has been paid to relief offered to those who are self-employed.
But in February of 2021, the Internal Revenue Service announced that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA).
INSIGHTS
New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA R-2021-31, February 8, 2021
WASHINGTON — The Internal Revenue Service announced today that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA).
Eligible self-employed individuals will determine their qualified sick and family leave equivalent tax credits with the new IRS Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed IndividualsPDF. They'll claim the tax credits on their 2020 Form 1040 for leave taken between April 1, 2020, and December 31, 2020, and on their 2021 Form 1040 for leave taken between January 1, 2021, and March 31, 2021.
Is There a Tax Credit for Self-Employed Workers Affected by the Coronavirus?
The Families First Coronavirus Response Act (FFCRA) came to the rescue for many self-employed taxpayers during the pandemic. The act, signed into law on March 18, 2020, initially provided tax credits to eligible taxpayers who could not work from April through December 31, 2020, due to COVID-19. The credit was extended to March 31, 2021. This carryover period from January through March 31, 2021, allowed eligible taxpayers to claim any unused sick leave or paid leave credits from 2020. The FFCRA laid the ground rules for how the credits worked, who is eligible, and how the credit is calculated.
On March 11, 2021, President Joe Biden signed the American Rescue Plan Act. This extended the tax credits for self-employed workers through September 30, 2021. This means that taxpayers affected April 1 - September 30, 2021, can claim the credits on their 2021 tax return.
Below, we break down the credits available for self-employed taxpayers under FFCRA.
New form from IRS lets the self-employed claim sick and family leave tax credits
The Bureau of Labor Statistics counts self employment in different ways, but estimates that there are close to 10 million, with projections that this number will grow by 8% each year for the foreseeable future. And while much of the COVID-relief packages have been focused on businesses and families, little media attention has been paid to relief offered to those who are self-employed.
But in February of 2021, the Internal Revenue Service announced that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA).
FREQUENTLY ASKED QUESTIONS
What is the Sick & Family Leave Tax Credit?
The Sick and family Leave tax credit for self-employed and 1099 workers is for eligible self-employed individuals or independent contractors.
Under the FFCRA, eligible self-employed individuals or independent contractors could claim a refundable tax credit against their income tax liability for up to 100% of the qualified sick and family leave equivalent amounts, subject to certain limitations, if they were unable to work or telework due to COVID-19-related reasons.
The qualified sick leave equivalent amount was the lesser of either $511 per day or 100% of the average daily self-employment income for each day an individual was unable to work or telework because they were subject to a quarantine or isolation order, had COVID-19 symptoms and were seeking a medical diagnosis, or were caring for someone who was subject to a quarantine or isolation order or who had COVID-19 symptoms.
The qualified family leave equivalent amount was the lesser of either $200 per day or 67% of the average daily self-employment income for each day an individual was unable to work or telework because they needed to care for a child whose school or place of care was closed due to COVID-19.
To claim the tax credit, eligible self-employed individuals or independent contractors would report the qualified sick and family leave equivalent amounts on their 2019, 2020 or 2021 tax return, depending on when the leave was taken.
What documentation do I need to provide?
For the most part, all we require is your 2019, 2020 and 2021 tax return including your schedule C and a copy of your drivers license for identification.
Do I have to fill out a ton of paperwork?
Not at all. We basically have an agreement letter on our website that you’ll need to read, sign and date. You will also need to upload a copy of your 2019, 2020 and 2021 tax returns and a copy of your drivers license. That’s basically it.
We try to make the process as easy and stress free as we can for you. Once we have your tax returns we’ll take over and get everything filed for you.
What if I already filed my taxes for 2020 & 2021?
We will need to file an amendment on your tax return. We do this all the time. All we require from you is a copy of your 2019, 2020 and 2021 tax returns and a copy of your drivers license and we’ll handle the rest.
How much are your processing fees?
Our fee schedule is really simple. We charge an No upfront fee. After you we calculate the amount of your tax credit you can have Legacy Tax File your tax returns for $395. Once you receive your refund from the IRS, an additional 20% of your refund amount is then due AFTER you receive your refund.
How much of a tax credit can I expect to receive?
There are a few factors that go into calculating your tax credit refund amount. The biggest factors would be:
Your net income from your schedule C on your 2019, 2020 and 2021 tax returns.
How many days you were out sick or told to quarantine with Covid-19
How long you might have cared for a loved one affected by Covid-19.
How long any schools or daycare centers were closed (and you were forced to care for a minor child during the closings).
But the fastest and easiest way to find out how much you qualify for is to simply use our online Tax Credit Calculator
Do I have to be self-employed to file for the tax credit refund?
Yes. This tax credit is for self-employed individuals, small business owners, freelancers, and 1099 contractors only.
Refer 3 to get yours FREE: Helping the Self-Employed Community Together
At Tax Prep Advocates, we understand the challenges faced by the self-employed community, especially when it comes to navigating the complexities of tax credits. Our mission has always been to simplify the process and ensure you get every dollar you deserve.
Our Commitment to You
We recognize that for some, the cost of filing an amended tax return to claim the SETC might seem steep, especially if the refund amount is less than $1,000. That's why we're introducing a special initiative to support our community.
Refer and Receive Free Services
If you're eligible for a refund of less than $1,000 and feel the $395 fee is a stretch, we've got your back. Simply refer three other paying customers to our service, and we'll file your amended tax return for the SETC absolutely FREE!
How It Works
Refer & Share: Tell your friends, family, and fellow self-employed professionals about our services. Share your unique referral link with them.
They Benefit: Your referrals will receive top-notch service and the peace of mind that comes with knowing their taxes are in expert hands.
You Benefit: Once three of your referrals become paying customers, we'll process your amendment for free. It's our way of saying thank you for trusting and supporting us.
Why We're Doing This
We believe in the power of community. By helping each other out, we can ensure that everyone gets the tax credits they're entitled to without the financial burden. This initiative is more than just a promotion; it's our commitment to standing by you and ensuring that financial constraints don't stand in the way of what's rightfully yours.
An Extra Bonus for Those with Larger Credits
We value every member of our community, regardless of the size of their tax credit. If you're eligible for a SETC of $1,000 or more, we have an exciting bonus for you too. Even with a larger credit, if you refer three paying customers to our service, we'll REFUND your entire filing fee! It's our way of saying a big thank you for your trust and for helping us grow our community.
Join Us in Making a Difference
Let's work together to help the self-employed community thrive. Share the benefits of Tax Prep Advocates with your network, and let us take care of the rest.
Terms and Conditions apply. Referrals must become paying customers for the free amendment offer to be valid. Contact us for more details.
Access to Business Funding
FUNDS UP TO $2,000,000
Get up to $10,000 in 10 Minutes
Approval in 1 to 3 Days
MINIMUM REQUIREMENTS:
3K Monthly Revenue
4+ Months in Business
500+ Owners Personal FICO Score
3 Month's Bank Statements