Frequently asked questions.
Documents are 90% of the battle. Here’s how you win on the first try!
To file for the self employed tax credit (SETC) you’ll need two documents
2019-2021 IRS Form 1040
Government Issued ID
What is an IRS Form 1040?
Form 1040 consists of two pages (23 lines in total), not counting attachments. The first page collects information about the taxpayer(s) and dependents. In particular, the taxpayer's filing status is reported on this page. The second page reports income, calculates the allowable deductions and credits, figures the tax due given adjusted income, and applies funds already withheld from wages or estimated payments made towards tax liability. If you are a self-employed individual filing for the SETC, please find and attach the appropriate 2019, 2020, 2021 IRS Form 1040’s.
What is a Schedule C and Schedule SE?
You will need two attached forms to your IRS Form 1040 (depending on your tax status and filing) to successfully apply for the SETC. These forms should have been filed when you filed your original tax returns for 2019-2021. These forms are the Schedule C (Profit or Loss from Business Form), and the Schedule SE (Self Employment Tax Form). These forms must be included with your attached tax returns when filing for the SETC. Please make sure you have these complete forms (all pages) attached to your filing.
