It depends. The Families First Coronavirus Response Act (FFCRA) provides two self-employed tax credits to help cover the cost of taking time off due to COVID-19.
The tax credit for paid sick leave applies to eligible self-employed taxpayers who are unable to work (including telework or working remotely) due to:
- Being subject to a federal, state, or local quarantine or isolation order due to COVID-19,
- Being advised by a health care provider to self-quarantine due to COVID-19, or
- Experiencing COVID-19-related symptoms and seeking a medical diagnosis.
If you meet the above requirements, you would be eligible for qualified sick leave for each day during the year that you were unable to work for the above reasons (up to 10 days). The tax credit is worth the lesser of $511 per day or 100% of your average daily self-employment income for the year per day.
The American rescue Plan of 2021, enacted March 11, 2021, amended and extended the tax credit and the availability of advance payments of the tax credits) for paid sick and family leave for wages paid with respect to the period beginning April 1, 2021, and ending on September 30, 2021.
For more information
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
