Why go with ERC Fast Track?
We are experience and trusted experts dedicated to providing support for self-employed individuals.
- Self-Employed Credit ExpertsOur team focuses on Covid related tax credits, allowing us to be the experts and ensuring that your claim gets processed before it’s too late.
- Get the Return You DeserveWe evaluate your claim to ensure we get your credit correct.
- Help Every Step of the WayAll your questions will be answered with a dedicated team of Self Employed Credit experts.
- File Lightning FastOur streamlined processes allow for faster results, which means you get your refund faster.
Am I eligible?
You may be if you are a self-employed individual or sole proprietor and missed work due to any of the following:
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We are specialists in understanding the Families First Coronavirus Response Act (FFCRA) and American Rescue Plan (ARP). Follow the 'Begin Qualifying' button today to see if you're eligible.Begin Qualifying
View some frequently asked questions about SETC.
The Families First Coronavirus Response Act (extended by the Consolidated Appropriations Act), and the American Rescue Plan offer tax credits to individuals through paid sick leave and extended family and medical leave for COVID-19-related reasons.
The IRS will refund you for your 2020 and/ or 2021 tax credit via a check. Please note that if you have any outstanding tax liabilities, the refund will first be used to offset the tax balance.
The PPP (Paycheck Protection Program), under the CARES Act, aids in retaining employees on payroll, offering loans potentially forgivable for small businesses. Qualified Sick & Family Leave wage credits, stemming from the FFCRA, Consolidated Appropriations Act, and the American Rescue Plan, provide tax credits for individuals without requiring repayment. While PPP targets business support, Qualified Sick & Family Paid Leave wage credits aim to assist individuals affected by the economic impact of missing work due to the COVID-19 pandemic.
Yes. The deadline to amend your 2020 and/or 2021 tax return for claiming or adjusting Qualified Sick & Family Paid Leave credits is three years from the original due date of the return. For the Qualified Sick & Family Paid Leave wage credits, the deadline for amending your 2020 tax return is April 15, 2024, and for your 2021 tax return, it is April 15, 2025.
The Qualified Sick & Family Paid Leave wage credit functions as a tax credit, not a loan or grant. Tailored to address needs similar to those covered by mandatory paid leave for employees, these tax credits aim to provide compensation for income lost due to COVID-19-related circumstances. Whether you were sick, caring for someone affected by COVID-19, or facing conditions hindering your ability to work, these credits aim to alleviate the financial impact on your income.
To be eligible for Self Employed Qualified Sick & Family Paid Leave wage credits, you need to fulfill specific requirements. This includes being a self-employed individual, encompassing various categories such as sole proprietors, independent business owners, 1099 contractors, freelancers, gig workers, and single-member LLCs. Additionally, you must have filed a Schedule SE of IRS Tax form 1040 in either 2020 and/or 2021, showing a positive net income and the payment of self-employment tax on your earnings. Furthermore, qualification entails having missed work due to issues directly related to COVID-19.
Covid related paid time off is available as follows: up to 60 days – 12 weeks between April 1, 2020, and March 31, 2021.Up to 70 days - 14 weeks between April 1, 2021, and September 30, 2021.