Get Up To $32,220 If You Missed Work From Covid
The easiest, fastest, and most secure way for individuals to claim their Self-Employed Tax Credit (SETC) under the Families First Coronavirus Response Act (FFCRA). Take our pre-qualification survey to get started. Total possible for the 2021 SETC is around $17,000, but we do a full tax audit where we've been able to find more money for our clients missed in previous tax return filings.
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Claim Your FFCRA SETCs With Our 100% Online Tool
Easy, Fast, and Accessible
Our guided application is easy to use, mobile-friendly, and spares you and your CPA the hours of work and frustration typically experienced when filing for this program.
Patent-Pending Technology
We utilize patent-pending technology to automatically calculate your tax credit(s) and amend your tax returns without uploading additional financial data.
Accurate and Compliant
Our application process has been carefully designed by CPAs, tax attorneys, and fintech developers to ensure accuracy, legitimacy, and compliance.
Introducing the Self-Employed Tax Credit
ABOUT SETCS AND THE FFCRA
What're Self-Employed
Tax Credits (SETCs)?
The Families First Coronavirus Response Act (FFCRA)
is a federal law (Public Law No. 116-127) that provides self-employed individuals with tax credits that reimburse them, dollar for dollar, for the cost of being unable to work due to COVID-related issues.
Self-Employed Tax Credits (SETCs) refer to the provisional sick and family leave tax credits for self-employed individuals introduced under the FFCRA in March 2020.
At A Glance
Provide Up to $32,220 Per Self-Employed Individual
Based on Sick Leave Equivalent and Family Leave Equivalent Amounts
Apply to Q2 (2020) Through Q3 (2021) With Up to 20 Sick Leave Days and 110 Family Leave Days
May Be Claimed Retroactively For a Limited Time The deadlines are April 15, 2024, and April 15, 2025.
Self-employed individuals who had to take time off in 2020 or 2021 because of COVID-19 are likely to qualify for the SETC tax credits provided by the FFCRA.
At A Glance
Identify as a Self-Employed Individual (e.g., Sole Proprietor, Freelancer, Independent Contractor, or Gig Worker)
Filed a Schedule SE (IRS Form 1040) for 2020 or 2021
and Reported a Positive Net Income
Unable to Work or Telework in 2020 or 2021 Due to a COVID-Related Issue
WHO QUALIFIES FOR THE SETC
Who Qualifies for a SETC Refund?
HOW TO CLAIM YOUR SETC REFUND
Using Fundabl's Self-Service Platform
Take Pre-Qualification Survey
Use our pre-qualification survey to determine your eligibility and calculate your estimated SETC amount.
Gather Tax Information and ID
We will need information on the dates and reported income from your 2020 and 2021 tax statements and a copy of your driver’s license or passport.
Complete the Application
Answer the questions provided, upload your ID, sign a few documents, and select your preferred payment method for the processing fee.
Await Your SETC Refund
The IRS will process your claim and issue a refund via check or direct deposit (ACH) based on your preferences.
FAQS ABOUT THE OUR SELF-SERVICE PLATFORM
Frequently Asked Questions, Answered
How much is the processing fee for your self-service platform, and what are the payment
Fundabl self-service platform, charges a 20% processing fee. You have the option to pay with a debit card, credit card, or PayPal account. If you use a PayPal account, you can Pay in 4 or Pay Monthly.
Money-Back Guarantee: If you do not receive your refund for any reason, we will reimburse you for any fees you have paid¹.
What is the average SETC refund individuals receive?
The average SETC refund clients receive using our self-service platform is about $9,400.
How long will it take to receive my SETC refund?
It can take up to three weeks for the IRS to acknowledge their acceptance of your SETC claim and 20 weeks for the IRS to process your SETC claim and issue your checks or direct deposit. However, our clients typically receive their refund in about nine weeks. Clients who opt for expedited processing may receive their refund even sooner.
Do I have to repay the funds I receive from the SETC?
No, the SETC is not a loan or grant. The funds you receive from the SETC are a refund against the taxes you have already paid or owe. These tax credits are intended to compensate you for the income you have lost due to COVID-19.
Are There any deadlines for claiming the SETC?
Yes, two deadlines apply to the amended tax returns required for your claim. The deadline for your 2020 amended tax return is April 15, 2024. This deadline applies to the period between April 1, 2020, and March 31, 2021, and accounts for $15,110 of the SETC value. The deadline for your 2021 amended tax return is April 15, 2025. This deadline applies to the period between April 1, 2021, and September 30, 2021, and accounts for $17,110 of the SETC value.
Apply for your Self Employment Tax Credit