Then unfortunately you would not qualify for this tax credit. This tax credit is only available to business owners that file a “Schedule C” in their federal tax returns for 2020 and/or 2021.
No. But millions of self-employed business owners were impacted by COVID and qualify for this tax credit. Once you submit your application online, within 1- 2 business days we can give you an answer on if you qualify and how much you would receive: at no upfront cost to you.
We charge no fees to do your calculations and verify if you qualify for the program. If you qualify for the program we charge 20% of what you receive in the refund/credit. For example, John receives a $20,000 SETC refund. John agrees to pay us 20% ($4,000) of the $20,000 refund ONLY AFTER he receives his refund in hands.
If your file comes back with a Tax Credit Refund LESS than $2,500; we will email you that you qualify for the credit however we can’t process the tax credit for you.
Every individual file is completely unique because it relies on your SE income, how Covid impacted you and your filed federal tax returns for 2020 & 2021. There is no average we can give. Remember, finding out if you qualify is free.
Then you would not qualify for this program; it is only available to self employed business owners that filed a Schedule C on their federal taxes for the year of 2020 and/or 2021.
This tax credit is broken up into 2 years: 2020 & 2021. The credit for the 2020 year will expire 3 years from when you originally filed your 2020 returns (sometime in 2024) & the credit for the 2021 year will expire 3 years from when you originally filed your 2021 returns (sometime in 2025). Don’t worry, we will double check everything for you when we do the review.
Absolutely NOT, we do NOT sell your data or information to anyone.
Self-Employment
Generally, you are self-employed if any of the following apply to you.
You regularly carry on a trade or business as a sole proprietor or an independent contractor.
You are a partner in a partnership that carries on a trade or business.
You are otherwise in business for yourself, including a part-time business, seasonal or even one time gig worker.
Schedule SE of Form 1040
Below is an example Schedule SE form, it what would be included with your 2020 or 2021 tax returns if you qualify. If you received any 1099’s or filed a Schedule C, please check to see if a Schedule SE was generated on your behalf!
Positive Net Earnings
To qualify for the use of our online portal, your Net Earnings must be greater than $0. Your Net Earnings is the amount entered in line 6 of Schedule SE (Form 1040)
Examples of missed work
Examples of missed work include, but are not limited to:
Quarantine/lockdown orders from federal, state, or local governments
Caring for a child whose daycare or school was closed due to COVID-19
Having symptoms of COVID-19 or seeking a medical diagnosis including routine testing
Experiencing side effects from the COVID-19 vaccine
Caring for someone with COVID-19 symptoms
Schedule SE of Form 1040
W-2 Form
A W2 form is a tax document used in the United States to report an employee’s wages paid by their employer. It includes information such as the employee’s total earnings, federal and state income tax withheld, Social Security and Medicare taxes withheld, and other contributions made by the employee. Employers are required to provide their employees with a W2 form each year by January 31st, which employees then use to file their income tax returns.