Self-Employed Tax Credit (SETC)
You may be eligible for up to $32,220 in tax credits from 2020 & 2021
The SETC is a specialized tax credit designed to provide support to 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 Anchor Accounting Service to ensure that you don’t miss out on this invaluable opportunity. Whether you’re a self-employed business owner, a 1099 subcontractor, Gig Worker, or a family-centric small business, the SETC holds the potential to bridge the gap left by more traditional forms of support.
Almost Everybody With Schedule C Income Qualifies To Some Extent
Key Eligibility Criteria
Self-Employed Status:
If you were self-employed in 2020 and/or 2021, you could potentially qualify for the SETC. This includes sole proprietors who run businesses with employees, 1099 subcontractors, and single-member LLCs. If you filed a “Schedule C” or a Partnership (1065) on your federal tax returns for 2020 and/or 2021, you’re on the right track.
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.
Important Note:
Sub S or True S Corps / 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/or 2021.
We now proudly offer our users access to apply for a credit advance, getting well deserved funds to independents in just 10 days.
We understand the struggles that self-employed Americans faced during the pandemic, and also the ones they are facing right now.
To claim your credits and apply for the tax credit advance:
Create your free account by scanning or clicking the QR Code shown here:
Answer the short questionnaire and get your estimated credit:
Upload your tax documents to our secure portal:
Choose how you’d like to receive your funds:
Have Questions or Need Help:
Contact Number: (866) 636-6015 Toll Free
Typical Application
When The IRS Processes My Credit
(Funds typically received in 18 – 22 weeks)
20% Fee Applied To Credit Received
Subject to IRS Processing Delays
How it works:
After submitting your application, it will undergo a review process. Once approved, you will receive an email containing an application for your advance.
Simultaneously, you will be provided your amended tax returns and a UPS label with instructions via email to complete your filing.
Our Expedited Application
Apply for Tax Credit Advance
(Funds typically received 5-10 business days)
20% Fee Applied To Credit Received
3% Processing Fee
How it works:
After submitting your application, it will undergo a review process. Once approved, you will receive an email containing an application for your advance.
This will typically take 1-2 business days. Once you have completed the application, you will receive your advance within 5-10 business days.
When you’re ready to apply, you’ll need a few tax documents, the date(s) that qualify you, and you can get your two completed documents from Gig Workers right HERE after you create your account and answer some simple questions. Details about all of these documents can be found on your Gig Workers portal.
After you’re done, check your email for the forms that give Anchor Accounting permission to work with the IRS on your behalf.
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