Is this program really from the IRS?

Yes, you can find the program on the IRS website, see picture below.

DO I HAVE TO BE SELF-EMPLOYED TO FILE FOR THE SETC?

Yes. This tax credit is for self-employed individuals, small business owners, freelancers, and 1099 contractors only.

WHAT IF I ALSO HAVE A W-2 ALONG WITH BEING SELF-EMPLOYED?

If you have both W-2 income from an employer and income from self-employment, you are still eligible to apply for the Self-Employment Tax Credit (SETC). To accurately calculate your corrected SETC refund, we simply require a copy of your W-2 form in addition to the details of your self-employment income. This ensures that your tax refund is calculated correctly.

IS THE SETC APPLICATION SIMPLE?

YES!! The form on this page asks a lot of qualifying questions.  After you fill out the form, you will be directed to our booking page to do your eligibility call to confirm you qualify to apply for the SETC program.  

It typically takes our CPA's about 2 - 3 weeks to complete your paperwork and send it to the IRS, assuming you provide your documents in a timely matter. Once the IRS accepts your return, it could take up 16 weeks to process and issue your refund. Below is a picture, from the IRS website, of my own return.

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 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 Schedule an eligibility call.

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.