If you’re self-employed, the SETC refund deadline is approaching quickly. You have until April 15, 2025, to claim the 2021 self-employed tax refund for missed work due to COVID-19. Many who qualify haven’t yet filed, but there’s still time to act and secure the refund you’re entitled to.
At SETC Tax Return, we specialize in helping self-employed individuals like you navigate the tax system and claim the credits you deserve. Our platform is designed to simplify the filing process for the self-employed tax refund, so you can focus on running your business while we help you maximize your tax benefits.
Let’s break down how you can still claim the 2021 refund and why it’s important to do so before the deadline.
What is the Self-Employed Tax Credit?
The Self-Employed Tax Credit (often called SETC) was introduced to help those affected by COVID-19 during the 2021 tax year. If you had to stop working due to illness or caregiving needs, you could be eligible for up to $511 per day for missed work, with a maximum benefit of $32,220. The credit applies to freelancers, 1099 contractors, gig workers, sole proprietors, and small business owners.
Even if you’ve already filed your 2021 taxes, you can still amend your return to claim the self-employed refund if you didn’t apply for it initially.
Who is Eligible for the Refund?
Nearly anyone with Schedule C income in 2021 may qualify for the refund. You’re eligible if:
- You had self-employed income in 2021.
- COVID-19 impacted your ability to work, either through illness or caregiving responsibilities.
- You didn’t claim the full tax credit on your original 2021 return.
This refund applies to days when COVID-19 directly affected your ability to work. You can claim a maximum of 10 sick days and 60 caregiving days for eligible periods during 2021.
How Much Can You Claim?
Eligible individuals can receive up to $511 per day for missed work days. The total amount you can claim through the self-employed tax credit caps at $32,220. The amount you receive depends on how many days you qualify for and how much self-employed income you reported in 2021.
To claim the refund, you’ll need to document:
- The exact days you couldn’t work due to COVID-19.
- Any caregiving responsibilities that affected your work during 2021.
Why You Should Act Before the SETC Refund Deadline
The ability to claim this refund ends on April 15, 2025. Once the deadline passes, you’ll no longer be able to amend your 2021 tax return to claim this benefit.
Don’t wait until the last minute. If you qualify, filing now could get you up to $32,220 in missed income from 2021. Even if you’re unsure whether you claimed the full credit or missed the opportunity, it’s worth reviewing your records.
How to File for the Refund
If you missed claiming this credit, here’s what you need to do:
- Gather your records: Make sure you have documentation showing the dates when COVID-19 affected your ability to work or when you had caregiving duties.
- File an amended return: Use Form 1040-X to adjust your 2021 return and claim the self-employed refund.
- Get help from SETC Tax Return: Filing an amended return can be confusing. Our software simplifies the process with an automated system designed for the self-employed.
Why Use SETC Tax Return?
Filing for the self-employed refund doesn’t need to be difficult. We make it easy to maximize the credits available to you. Our platform is designed to simplify complex tax rules and ensure you get the most out of your refund.
- User-friendly software: We automate the process to help you understand and claim the refund, regardless of your tax knowledge.
- Focus on self-employed individuals: Our mission is to support the self-employed by ensuring they receive all available tax credits.
- Maximize your refund: Don’t miss out on up to $32,220 in available benefits. Our platform is built to help you get the refund you’re entitled to.
Don’t Miss the Refund Deadline
The opportunity to claim the self-employed tax refund for 2021 ends soon. The April 15, 2025 deadline is approaching fast, and once it’s passed, you won’t be able to claim this credit.
If you were self-employed in 2021 and missed out on this tax credit, now is the time to act. File an amended return and claim what you’re entitled to. By using our services, the process is streamlined, so you can maximize your refund with ease. Visit our website today to learn more about how we can help you before the deadline arrives.
To get started, click here or give SETC Tax Return a call at 888-738-2829.