SETC Eligibility Tool for 1099 Contractors: Subsidize Lost Income During Covid
Did you know that independent contractors can now claim tax credits under the Families First Coronavirus Response Act? If not, you’re not alone. Unfortunately, this COVID relief program hasn’t been widely publicized but the good news is you can still make your claim today!
HeyDay Marketing HQ has partnered with a CPA firm specializing in self-employed tax credit programs to raise awareness of the recent expansion of the Families First Coronavirus Response Act (FFCRA) to include independent contractors. This means that 1099 contractors, just like you, are now eligible for tax credits as payback for the time you were out of work because of COVID-19-related reasons.
What qualifies under FFCRA tax credits? Using the new online navigation tool, you can find out how much you are due in self-employed tax credits, up to a maximum of $32,000. Under FFCRA regulations, you can claim tax credits for loss of income due to quarantine restrictions, COVID-19-related illness and vaccination appointments. You are also eligible for tax credits if you missed work due to family-related issues, such as caring for a sick family member or providing childcare due to government-issued school closures.
Why didn't I know about it? According to research from Bipartisan Policy Center, the take-up for self-employed tax credits has been underutilized since the pandemic due to low awareness. They point to the Small Business Administration’s (SBA) decision not to market the tax credit as a major contributing factor, with many individuals failing to realize that such relief funds are still available. HeyDay Marketing HQ aims to raise awareness of FFCRA tax credits for 1099 contractors so that more people take up this federal relief program.
Is this a loan? Unlike other programs such as PPP, FFCRA tax credits do not have to be paid back as they are considered to be a refund of taxes that have already been paid. So spend them any way you want! You can claim tax credits for any dates between April 1st, 2020 and March 31st, 2021 and up to ten days between April 1st, 2021 and September 30th, 2021.
How time-consuming is the application process? By completing a straightforward online form, you can determine how much you are entitled to as well as receiving information about the IRS application process. Worried you don't have the time? The team behind the application tool will handle all the associated paperwork for you, including the amendment of tax returns, to ensure a quick and easy process.
Don't miss out! Claim back the money you are entitled to today by clicking on the link in the description. HeyDay Marketing HQ City: New Orleans Address: 3157 Gentilly Blvd #2126 Website https://heydaymarketinghq.com Phone +1-504-517-5428 Email heydaymarketinghq@gmail.com
