What if I already filed my taxes for 2020 & 2021?
Our CPAs and EAs must file an amended tax return for each year applicable. All we require from you is a copy of your 2019, 2020, and 2021 tax returns and a copy of your driver's license, and we'll handle the rest.
What is the Sick & Family Leave Tax Credit?
The Sick and Family Leave Tax Credit for self-employed and 1099 workers is for eligible self-employed individuals or independent contractors.
Under the FFCRA, eligible self-employed individuals or independent contractors could claim a refundable tax credit against their income tax liability for up to 100% of the qualified sick and family leave equivalent amounts, subject to certain limitations if they were unable to work or telework due to COVID-19-related reasons.
The qualified sick leave equivalent amount was the lesser of either $511 per day or 100% of the average daily self-employment income/260 for each day an individual was unable to work or telework because they were subject to a quarantine or isolation order, had COVID-19 symptoms and were seeking a medical diagnosis, or were caring for someone who was subject to a quarantine or isolation order or who had COVID-19 symptoms.
The qualified family leave equivalent amount was the lesser of either $200 per day or 67% of the average daily self-employment income for each day an individual was unable to work or telework because they needed to care for a child whose school or place of care was closed due to COVID-19.
What documentation do I need to provide?
For the most part, we only require your 2019, 2020, and 2021 tax returns, including your Schedule C and a copy of your driver's license for identification.
How much are your processing fees?
Our fee schedule is really simple. We charge an No upfront fee. After you we calculate the amount of your tax credit you can have Legacy Tax File your tax returns fo $395. If you would like to take the IRS form 7202, that we will have completed, you have the option to take it to file it your self of use another tax professional. Once you receive your refund from the IRS, an additional 20% of your refund amount is then due AFTER you receive your refund.
Do I have to fill out a ton of paperwork?
Not at all. Our website has an agreement letter that you must read, sign, and date. You will also need to upload a copy of your 2019, 2020, and 2021 tax returns and a copy of your driver's license.
We try to make the process as easy and stress-free as possible. Once we have your tax returns, we'll take over and get everything filed for you.
Do I have to be self-employed to file for the tax credit refund?
Yes. This tax credit is only for self-employed individuals, small business owners, freelancers, and 1099 contractors.
How much of a tax credit can I expect to receive?
A few factors go into calculating your tax credit refund amount. The most significant factors would be:
Your net income from your Schedule C on your 2019, 2020, and 2021 tax returns.
How many days you were out sick or told to quarantine with Covid-19
How long you might have cared for a loved one affected by Covid-19.
How long were schools or daycare centers closed (and you were forced to care for a minor child during the closings).
But the fastest and easiest way to find out how much you qualify for is to simply use our online Tax Credit Calculator
How long before I will receive my cash refund?
Once we receive the necessary paperwork from you, we will begin to work on your case immediately and get all the forms filed; then, it is up to the IRS to send your refund directly to you.
For the most part, we find that it usually takes 12–16 weeks to complete the process and receive your cash refund.
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