Tax work team

The May 17th deadline to file for 2020 is approaching. You could miss out on up to $15,000 in tax credits.
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Qualify For SETC Now
Qualify For SETC Now
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Self Employed And Interested In Up To $32,220?

Do Not Leave Your Tax Credit On The Table.
Qualify For SETC Now
Need Help? Call: 866-992-4242

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We simply need to review your information to inform you of how much money you’re eligible for and there is no obligation.

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The Self Employed Tax Credit 
(SETC)

Whether you’re a self-employed business owner, a 1099 subcontractor, or a family-centric small business, the Self-Employed Tax Credit is a great option to take advantage of if you quality.

The Self Employed Tax Credit (SETC) refers to the sick leave and family leave tax credit for self-employed individuals introduced under the FFCRA. The SETC allows qualified self-employed workers to recover up to $32,220 for 2020 and 2021.

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.

Qualify For SETC Now

Need Help? Call

866-992-4242

Are you self employed and did you miss work due to COVID?

While the SETC (Self Employment Tax Credit) is not new, countless Americans don’t know they are eligible and potentially missing their rightful claims , If you have Schedule SE income, you likely Qualify.

Examples of Missed Work

Some reasons include, but are not limited to:
  • Quarantine/lockdown orders from federal, state, or local governments
  • Caring for a child whose daycare or school has closed due to COVID-19
  • Having symptoms of COVID-19 or seeking a medical diagnosis
  • Experiencing side effects from the COVID-19 vaccine
  • Caring for someone with COVID-19 symptoms

You must have met one of or more of the following Sick Leave or Family Care Qualifications:

  • Includes isolation order/quarantine/experiencing COVID-19 symptoms and seeking medical diagnosis and/or caring for someone else under COVID-19 diagnosis and childcare. Caring for a child when a school or other childcare facility/provider is unavailable due to COVID-19. Caring for a child and / or an over 18 adult for any qualifying reasons for paid sick leave.
  • Includes COVID-19 vaccinations or sickness related to immunizations or COVID- 19 testing waiting periods, and to accompanying an individual to obtain immunizations related to COVID-19 or caring for an individual who is recovering from any injury, disability, illness, or condition related to the immunization.
Click Here to Qualify in 2 Minutes

Self Employed Tax Credits!

    Your Tax Credit Estimate!!


    According to what YOU entered as income and some other factors taken into consideration, it appears you could qualify for a total tax refund in the amount of:

    $0.00

    REFUND DISCLAIMER: Please note that this federal tax refund estimate is not guaranteed and is for informational purposes only. There are many factors that go into calculating any federal refund from the IRS such as: 1. If you owe any back taxes; 2. If you’ve already claimed a full or partial tax credit for this program; 3. A full review of your tax return for accuracy; 4. The estimate is for informational use only and is reliant on the accuracy of the information submitted.

    Up to $32,220 is Waiting for You Get Your Estimate Now!








    Calculate

    Unfortunately, it looks like your income and time taken off for personal or family care has a credit amount too low for us to process your submission.

    If you feel you entered some incorrect information please email us at taxcredit@taxworkteam.com

    Thank you!

    The Complete Refunds Team

    Congratulations, you’re pre-qualified to receive tax credits!

    Based on your answers, your credit may be up to .

    Continue below to ensure you get the maximum refund possible.







    Next and Final Step!

    As per IRS guidelines, you are NOT required to provide proof of a positive COVID-19 test or your COVID-19 status when submitting your filing. Instead, you are confirming IN GOOD FAITH that you experienced COVID-19, its symptoms, related illness, or quarantine, resulting in the inability to work and earn income. While no specific evidence is needed for filing, it’s advisable to retain certain records for your records. These might include a positive COVID-19 test result, a healthcare provider’s note about your positive test or symptoms, or documentation indicating quarantine. Also, remember that maintaining records of non-working days due to COVID-19 exposure or symptoms could be beneficial, such as data from your business software or bank statements reflecting the absence of sales deposits during that period. You can trust our simplified process to account for your circumstances accurately and fairly.

    STEP : 01

    Sign Our Engagement Letter

    Give our Experts the green light by signing our Engagement Letter, which formally kicks off the process to get you your money.

    STEP : 02

    Gather Needed Documents

    We’ll outline all the documents required for us to get your credit into your pocket! Your information is always safe and secure in an encrypted, cloud-based shared drive.

    STEP : 03

    Credit Analysis

    Once we have all the documents an expert will begin working on your credit calculations. Within 7 business days your file will be complete and we will be in touch to tell you the credit amount.

    STEP : 04

    Get Paid

    Once the paperwork is submitted to the IRS, the processing time to receive your credit is typically 4-6 months. If you wish to receive your funds earlier we can offer financing against your IRS Credit. Funding is typically 14 days.

    The work process of Receiving Funds

    How do I qualify for the self-employed
    tax credit?

    Only self-employed individuals with a profit will be able to take the tax credits. If there was a loss in the business, you are not eligible for the sick or family leave credit.
    Click Here to Qualify in 2 Minutes
    Click here to see an example of where to find line 6 on your Schedule SE – Self Employment Tax.

    Key Eligibility Criteria

    Self-Employed Status:

    If you were self-employed in 2020 and/or 2021, you could potentially qualify for the SETC. This includes sole proprietors who run businesses with employees, 1099 subcontractors, and single-member LLCs. You must have filed a “Schedule SE” or Self Employment Tax on your 1040 federal tax return.

    If you find the Income on Line 6 of your Schedule SE. Click here to see an example

    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.

    What tax credits are available to self-employed workers affected by COVID-19?

    There are two tax credits available to self-employed workers affected by COVID-19: Sick leave and family leave. The sick leave credit applies to qualified individuals who were not able to work for a period of time due to COVID-19 or were caring for someone with COVID-19. You may qualify for the family leave credit if you had to care for another family member due to COVID-19-related circumstances and already maxed out the sick leave days.

    Prior to April 2020, the credit for sick and family leave was limited to certain employers. This credit was available to small and mid-sized employers who had fewer than 500 employees. Qualified employers received the credit for providing paid sick and family leave wages to their employees.

    The Families First Coronavirus Response Act expanded these credits to include self-employed workers. This includes freelancers, contractors, and gig workers. This legislation allowed qualified self-employed individuals to claim the credit on their 2020 tax return. The American Rescue Plan Act extended the credit and allowed taxpayers to claim it on their 2021 tax return, too.

    LegislationDate SignedTax CreditsEligible Time Period
    Families First Caronavirus ActMarch 18, 2020Qualified sick and family leave creditsApril 1, 2020-March 31, 2021
    American Rescue Plan ActMarch 11, 2021Qualified sick and family leave creditsApril 1, 2021-September 30, 2021

    What is the self-employed tax credit?

    The self-employed tax credits provide tax savings for individuals who could not work due to COVID-19. These credits offset any tax liability created from self-employment income in the taxable year. The SETC is a specialized tax credit designed to support 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.



    Whether you’re a self-employed business owner, a 1099 subcontractor, or a family-centric small business, the Self-Employed Tax Credit is a great option to take advantage of if you qualify.

    Almost everybody with Schedule C income, qualifies to some extent.

    Are there any limits to the Self Employed Tax Credit?

    Yes, there are limits to the sick and family leave credits. You will not receive the full tax credit if you also received any wages from an employer for sick or family leave. The wages received reduces the amount of the credit you are eligible for. This prevents individuals from double dipping from the same benefit. Qualified individuals may be able to claim up to $15,110 for the sick and family leave credits for 2020 and $17,110 for 2021.
    Only self-employed individuals with a profit will be able to take the tax credits. If there was a loss in the business, you are not eligible for the sick or family leave credit.

    Click Here to Qualify in 2 Minutes

    Why Choose The Tax Work Team?

    Experts In The Field

    Our team is fully up to date on the latest tax credits and have been satisfying customers for 2 years.

    Receive Your Credit Timely

    Once you start working with us, we will make sure to complete the process as quickly as possible

    Quality Assurance

    All documentation goes through several rounds of quality control

    Transparency

    We will share a detailed report of each credit received per employee at your request.

    Maximize Your Claim

    We will calculate your refund for all eligible quarters during 2020 and 2021 and make sure you receive the maximum refund that you are eligible for

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    FAQs

    The self-employed tax credits provide tax savings for individuals who could not work due to COVID-19. These credits offset any tax liability created from self-employment income in the taxable year.

    The SETC is a specialized tax credit designed to support 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.

    Whether you’re a self-employed business owner, a 1099 subcontractor, or a family-centric small business, the Self-Employed Tax Credit is a great option to take advantage of if you qualify.

    The maximum credit amount is $33,220. Qualified individuals may be able to claim up to $15,110 for the sick and family leave credits for 2020 and $17,110 for 2021.
    It’s still worth seeing how much you Qualify for. The IRS guidelines allow you to use the income from the previous year if it is higher than the year you are applying for the credit. For example if you made $40,000 in 2019 and $22,000 in 2020 the guidelines will allow the credit in 2020 to be based off of the 2019 income.

    It’s pretty simple. First you have to be a sole proprietor who runs a business that might be just you, can have employees, 1099 subcontractors, and single-member LLCs.

    You have filed a 1040 Tax Return for 2020 and / or 2021. You must have filed a “Schedule C” or a Partnership (1065) on your federal tax returns for 2020 and/or 2021.

    If you have Net Income on Line 6 of the 1040, Net Income on line 31 of your Schedule C and / or Net Income in box 14A of your K1 then you will likely qualify.

    Sub S or True S Corps / C Corps are not eligible for the SETC.

    Your income to qualify for this credit can be found in your 1040 tax return in the Schedule SE on line 6.

    Click here to see an example of Line 6 of the Schedule SE.

    The Schedule SE is used for “Earned Income” .  This tax credit is for those taxpayers that paid the Self Employment Tax on Earned Income.  If a  taxpayer is self-employed and does not have a Schedule SE, they do not qualify.

    Qualified employers did receive the credit for providing paid sick and family leave wages to their employees. Here’s an example of how the sick and family leave credits work if that was the case for you:

    • Let’s say James is single and has no dependent children.
    • James works as an employee at his friend’s retail store.
    • He also worked as an IT professional on the side in his own business during 2020.
    • James had a net profit of $135,000 from his own business.
    • He missed 10 days of working in his friend’s store due to COVID.
    • During that time, James received $1,600 in sick wages from his friend’s retail store.
    • For 2020 he can only claim up to $3,510 ($5,110 – $1,600) as a sick leave credit on his taxes for his business as an IT professional.

    Our team will provide you with the right answers based on your specific circumstances.

    Most self-employed people likely qualify for the SETC. There are 2 Factors that determine your credit amount and we can give you an estimate the same day we receive your qualification form:

    You MUST have filed a 1040 Tax Return for 2020 and / or 2021. You MUST have filed a “Schedule SE” on your federal tax returns for 2020 and/or 2021.

    The income that is used to qualify is on Line 6 of the your Schedule SE.

    Click here to see an example of Line 6 of the Schedule SE.

    You took time off from your self-employment business because you, your dependent children or someone you were taking care of had to quarantine because of COVID, COVID symptoms, had symptoms after a COVID vaccination and / or also because of daycare or school closures.

    The more net income, and days you were not able to work for yourself and any dependent children who you cared for because of the qualifying COVID issues then the higher the potential credit amount.

    Yes, there are limits to the sick and family leave credits. You will not receive the full tax credit if you also received any wages from an employer for sick or family leave. The wages received reduces the amount of the credit you are eligible for. This prevents individuals from double dipping from the same benefit. Qualified individuals may be able to claim up to $15,110 for the sick and family leave credits for 2020 and $17,110 for 2021.
    Prior to April 2020, the credit for sick and family leave was limited to certain employers. This credit was available to small and mid-sized employers who had fewer than 500 employees. Qualified employers received the credit for providing paid sick and family leave wages to their employees. The Families First Coronavirus Response Act expanded these credits to include self-employed workers. This includes freelancers, contractors, and gig workers. This legislation allowed qualified self-employed individuals to claim the credit on their 2020 tax return. The American Rescue Plan Act extended the credit and allowed taxpayers to claim it on their 2021 tax return, too.
    This is not a loan but rather a refund from your previously paid taxes. This does not need to be paid back and is not taxable.
    Based on 2023 we typically saw the credit issued by the IRS issues 4 – 6 months after the 1040X amended tax return was filed.

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      setc@taxworkteam.com

      Tax Work Team, 2054 Vista Parkway, Suite 400, West Palm Beach, 33411

      Exemption No. Exemption Short Title
      1 Securities reporting issuer
      2 Governmental authority
      3 Bank
      4 Credit union
      5 Depository institution holding company
      6 Money services business
      7 Broker or dealer in securities
      8 Securities exchange or clearing agency
      9 Other Exchange Act registered entity
      10 Investment company or investment adviser
      11 Venture capital fund adviser
      12 Insurance company
      Exemption No. Exemption Short Title
      13 State-licened insurance producer
      14 Commodity Exchange Act registered entity
      15 Accounting firm
      16 Public utility
      17 Finanaial market utility
      18 Pooled investment vehicle
      19 Tax-exempt entity
      20 Entity assisting a tax-exempt entity
      21 Large operating company
      22 Subsidiary of certain exempt entities
      23 Inactive entity

      COVID issues mean:

      For your dependent children:

      You took care of your dependent child (under the age of 18 or a child with severe disabilities) related to COVID. The child’s school or daycare closed, your child was sick, or your child was told to quarantine due to COVID. Your child had COVID, had COVID symptoms, a COVID related illness, and / or a COVID vaccination.

      COVID issues mean:

      For yourself or anyone else (besides your dependents):

      – You or an individual you were caring for was subject to government quarantine or isolation orders related to COVID-19
      – You or an individual you were caring for was advised by a health care provider to self-quarantine due to concerns related to COVID-19