Introducing the Self-Employed Tax Credit (SETC)

You may be eligible for up to $32,220 in tax credits from 2020 & 2021

The government has money set aside for you for COVID-19 relief. It’s already your money, and if you don’t claim it, it goes back to the government for them to use it for something else!

Takes 5 minutes to see if you qualify

NO UPFRONT FEES

This is NOT a loan

It is NOT taxable

It does NOT have to be paid back!

This is a relief payment from the government for enduring COVID-19 and being an American!

WHAT IS THE SETC PROGRAM?

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.

Understanding the unique circumstances that self-employed individuals face, we’ve partnered with Gigworker Solutions to ensure you take advantage of this invaluable opportunity. Whether you’re a self-employed business owner, a 1099 subcontractor, or a family-centric small business, the SETC can bridge the gap left by more traditional forms of support.

WHO ARE YOU AND WHY?

SETC Payment is a partner of Gigworker Solutions because the government cannot handle these inquiries internally. If you are a self-employed business owner, a 1099 subcontractor, or a family-centered small business, the SETC was created by the government as a way of saying thank you and helping you through COVID-19 issues.

You will qualify for a certain amount if you have a Schedule C income on your taxes.

HOW DO I KNOW IF I QUALIFY?

You must be of Self-Employed Status:

If you were self-employed in 2020 and 2021, you could qualify for the SETC. This includes sole proprietors who run businesses with employees, 1099 subcontractors, and single-member LLCs.

You’re on the right track if you filed a “Schedule C” or a Partnership (1065) on your federal tax returns for 2020 and 2021.

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.

WHO WON'T QUALIFY?

Sub S or True S Corps and C Corps are not eligible for the SETC. This unique tax credit is exclusively available to business owners who filed a “Schedule C” or a Partnership (1065) on their federal tax returns for 2020 and 2021. When you’re ready to apply, you’ll need a few tax documents, the dates) that qualify you, and two completed documents from Gig Workers.

INTERESTING FACTS

1 in 4 Americans earned a 1099 income during COVID doing gig work

Even current W2 EE’s today may qualify in some fashion for the SETC.

There were 50 million Gig workers during COVID-19, and approximately 40 Million of those are eligible in some fashion for this SETC.

You can use 2019’s Line 6 SE instead of 2020’s number if it is higher.

So make sure you check both returns and send them both to us.

The credit is not based on you not working/earning income but being impacted by COVID and unable to earn your max…

A sense of urgency to determine eligibility and claim to get to the top of the pile for this soon-to-be-expiring credit.

FREQUENTLY ASKED QUESTIONS

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.

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

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 returns, depending on when their leave was taken.

Do I have to fill out a ton of paperwork?

Not at all. Our website has an agreement letter that you must 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 driver’s license. That’s it.

We 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.

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.

How much of a tax credit can I expect to receive?

A few factors go into calculating your tax credit refund amount. The most significant factors would be:

1. Your net income from your Schedule C on your 2019, 2020, and 2021 tax returns.

2. How many days you were out sick or told to quarantine with Covid-19

3. How long you might have cared for a loved one affected by Covid-19?

4. How long were schools or daycare centers closed (and you were forced to care for a minor child during the closings)

How long before I will receive my cash refund?

Once we receive the necessary paperwork from you, we will begin to work on your case and get all the forms filed, etc. It is then up to the IRS to send you your refund directly to you.

It usually takes 12-16 weeks to complete the process and receive your cash refund.

Can I contact to someone about my situation?

Absolutely. You can contact us via support@setcpayment.com. We’re happy to talk to you and answer any questions.

Do you want to help others qualify and make money helping people get money?

Yes, it sounds crazy, but If you want to be a part of the SETC Payment Team helping people get their payments, we will pay you a commission for sharing with your friends and family. Yes, will be getting paid to help others get free money. Click on the Get Started button below, fill out the form and we will send you the details.