Calling all independent contractors and self-employed business owners! The Families First Coronavirus Response Act (FFCRA) was passed by Congress in April 2020 to provide financial support for self-employed individuals (sole proprietors, 1099 contractors, freelance workers, etc.). If you couldn’t work (including teleworking) due to certain COVID-19-related reasons, the FFCRA gives you a special credit to help out for missed earnings during those challenging times.
- Were you self-employed or a 1099 contractor in 2020 or 2021?
- Did you report net earnings on your Schedule SE?
- Did you ever miss work because you or a family member were impacted by COVID-19? (See full list below of “IRS Guidelines for Qualifying Care”)
If you answered “Yes” to all of these questions, you may be entitled to a refundable tax credit and Figure Financial is here to help. We’ve designed a simple application process to estimate your tax credit, as follows:
- Complete a questionnaire to give us the dates you missed work due to qualified reasons and provide us copies of your 2019, 2020, and 2021 tax returns.
- Sign an agreement and pay a small deposit to have our tax experts calculate your exact qualified credit.
- We’ll review our findings with you, have you sign your amended return, and pay your filing fee.
- We’ll get the return filed and monitor its status with the IRS until your credit is issued.
Click here to start your FFCRA Application
IRS Guidelines for Qualifying Care (Self, Child, or Others):
- You were subject to a federal, state, or local quarantine or isolation order related to COVID-19.
- You were advised by a health care provider to self-quarantine due to concerns related to COVID-19.
- You were experiencing symptoms of COVID-19 and seeking a medical diagnosis of COVID-19.
- You were seeking or awaiting the results of a diagnostic test for, or a medical diagnosis of, COVID-19.
- You were exposed to COVID-19 or were unable to work pending the results of a test or diagnosis.
- You were obtaining immunization related to COVID-19.
- You were recovering from any injury, disability, illness, or condition related to such immunization.
- You were caring for an individual who was subject to a federal, state, or local quarantine or isolation order related to COVID-19.
- You were caring for an individual who had been advised by a health care provider to self-quarantine due to concerns related to COVID-19.
- You were caring for a son or daughter because the school or place of care for that child was closed or the childcare provider for that child was unavailable due to COVID-19 precautions.
- You were accompanying an individual to obtain immunization related to COVID-19.
- You were caring for an individual who was recovering from any injury, disability, illness, or condition related to the immunization.