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What Is The FFCRA Tax Credit —Families First Coronavirus Response Act?
The Families First Coronavirus Response Act (FFCRA) is a federal law (Public Law No. 116-127) that provides self-employed individuals with tax credits. These credits reimburse them for the cost of being unable to work due to COVID-related issues.
The FFCRA was created by Congress to help support independent business owners such as sole proprietors, freelancers, and gig workers during the pandemic. It aims to ensure that we all can build back better.
The FFCRA is the only government program that returns cash to the self-employed. It is not a loan, but a refund of the taxes that you have already paid.
Who qualifies for the FFCRA Tax Credit?
The FFCRA allows for a 1099 contractor or self-employed individual to qualify for paid sick time if they were unable to work or telework because of COVID-19. A few qualifying reasons include, but are not limited to:
- Following a federal, state or local quarantine or isolation order
- Advised by a healthcare provider to self-quarantine
- Experienced Coronavirus symptoms and were seeking a medical diagnosis
- Caring for a child or other individual, who was subject to an government-issued or self-quarantine restriction
- Caring for a child whose school or daycare was closed or unavailable.
- Obtaining a COVID-19 vaccination
- Recovering from illness related to the COVID-19 vaccine
- Seeking or waiting for the results from a COVID-19 test
SEE IF YOU QUALIFY IN 3 EASY STEPS...
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What Is The FFCRA Tax Credit?
The Families First Coronavirus Response Act (FFCRA) is a federal law (Public Law No. 116-127) that provides self-employed individuals with tax credits. These credits reimburse them for the cost of being unable to work due to COVID-related issues.