Pandemic Payday: The SETC
Are You Owed Thousands From the Self-Employed Tax Credit? What if You Didn’t File Those Years?
During the Covid-19 pandemic, did you experience any of the following situations?
Were you self-employed?

This includes sole proprietorships, partnerships, limited liability companies (LLCs), gig work like driving for Uber or DoorDash, and other independent contractor roles.
Did you get sick with Covid-19?

Whether a mild case or more severe, any Covid-19 illness you experienced could qualify.
Did childcare issues force you to miss work?

With schools and daycares closed, many had to take time off to care for their children.
Did you have to care for a loved one with Covid-19?

Taking time away from work to be a caregiver for a family member or friend with the virus may also qualify.

If you answered YES to any of the above, you could be eligible for significant tax credits!

The government has made available tax credits of up to $32,000 for those whose work was impacted by the pandemic in 2020 and 2021. These valuable credits are retroactive, meaning you may be able to claim them even if you've already filed your taxes for those years.

Don't miss out on this opportunity to receive the financial relief you deserve. The next steps explain how to easily claim your credits...

If the taxpayer did not file a tax return for 2020 and 2021, the situation regarding the SETC gets a bit trickier.

Here's why:
Original Filing: The SETC was claimed through a separate form (Form 7202) submitted with the taxpayer's regular tax return.

No Return, No Claim: Since there was no original tax return filed for 2020 and 2021, there wouldn't be a platform to claim the SETC using Form 7202.

However, there might still be some options depending on the taxpayer's specific circumstances:
File Original Tax Returns (Including SETC): The taxpayer can still file their original tax returns for 2020 and 2021, even though the deadlines have passed. This would involve filing both the standard tax return forms (Form 1040) and Form 7202 to claim the SETC.

There may be penalties and interest associated with late filing, but claiming the SETC could potentially offset some of those charges.

Consult a SETC Professional: Due to the specific situation of not filing tax returns at all, it's highly recommended the taxpayer consult with a tax professional. They can assess the taxpayer's eligibility for the SETC based on their income and qualified leave reasons in 2020 and 2021.
The professional can also advise on the best course of action for filing the original tax returns and potentially claiming the SETC, while minimizing any penalties and interest.

Here are some additional points to consider:
Eligibility for SETC Still Applies: Even if the returns are filed late, the eligibility requirements for the SETC (self-employed status, qualified leave reasons) would still apply.
Time Limits for Original Filings: While there are penalties for late filing, the IRS generally allows for original tax returns to be filed even years after the deadline.

There's is a set cutoff date, but significant delays can lead to higher penalties and interest.
Remember: The SETC program is no longer active for future tax years. This information applies only to claiming the credit retroactively for tax years 2020 and 2021.The very last opportunity claim your benefit FOREVER is April 15th, 2025

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