Introducing the Self-Employed Tax Credit
Fundable self-service platform is 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.
Are You Self Employed? Get up to $32,220 from the IRS
Use our instant estimator tool to know how much federal tax refunds are owed to you through the FFCRA Covid Relief Program for the Self Employed.
Claim Your SETC 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.
Accurate and Compliant
Our application process has been carefully designed by CPAs, tax attorneys, and fintech developers to ensure accuracy, legitimacy, and compliance.
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.
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.
Only self-employed individuals with a net profit will be able to take the tax credits. If there was a loss in the business, you are not eligible for the sick or family leave credit.
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.
Here’s an example of how the sick and family leave credits work:
Let’s say James works as a stocker in his father’s retail store.
He also worked as a electrician on the side in his own business during 2020.
James had a net profit of $135,000 from his business. He missed 10 days of working in his father's store due to COVID.
During that time, James received $1,600 in sick wages from his father’s retail store.
He can only claim $3,510 ($5,110 - $1,600) as a sick leave credit on his taxes for his business as an electrician.
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?
See How Much Money You May Qualify for in 8 Simple Questions!
The SETC is a Refundable Credit!
A non-refundable tax credit can only reduce tax liability to zero. The Self-Employed Tax Credit (SETC) is refundable tax credit results in a tax refund if the amount owed is below zero. Very Important: This means that you can amend your return(s) 2020 and 2021 and get the FULL amounts of the refundable credit(s).
The bottom line
There are tax credits available for self-employed individuals and small-business owners who could not work or telework due to COVID-19. Qualified individuals may be able to claim up to $15,110 for the sick and family leave credits for 2020 and $17,110 for 2021. These refundable credits can be claimed by filing a Form 7202 with the 2020 or 2021 tax return. If the returns have already been filed, you need to amend the returns to get the refundable credit. It’s important to consult with a tax professional to ensure that these calculations for the credits are done correctly.
If you're self employed, a 1099 contractor, a freelancer, or a small business owner and file a 1040 tax return with attached schedule C and your business was affected by the COVID-19 pandemic in 2020 and/or 2021, use this survey to calculate how much refund you could expect to receive from the IRS.
Filing, Fast & Easy
Filing with the IRS can be challenging, complex, and time-consuming, and many people are worried about —
Do I have the right paperwork?
Are these calculations correct?
How do I know if I’m approved?
That’s why we're here to help. We’ll take care of amending your tax returns and submitting your application to the IRS, so you can get back to doing what matters most: growing your business.
HOW TO CLAIM YOUR SETC REFUND
A Simple 4-Step Process
GET QUALIFIED INSTANTLY
If you’re self employed and suffered losses during the pandemic, chances are you qualify for this special program. Just fill out the survey above to find out how much you qualify for instantly.
FILE YOUR CLAIM
We’re help to help you every step of the way. Our experts will complete all your paperwork and file your claim with the IRS on your behalf, even if you already filed your 2020 and/or 2021 taxes. 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 YOUR APPLICATION
Answer the questions provided, upload your ID, sign a few documents, and select your preferred payment method for the processing fee.
RECEIVE YOUR MONEY
Sit back and relax knowing your money is on the way. You’ll receive your refund directly from the IRS. Most clients receive their money within 16-20 weeks.
ZERO RISK POLICY
We provide you with exceptional service and get you the tax credit you deserve. If, for any reason we aren’t able to secure your refund, you pay nothing. We assume all the risk.
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.