Don’t miss out on significant tax benefits for you or your corporation. !You can still claim unclaimed 2020 and 2021 COVID-19 sick and family leave credits.
The IRS allows individuals and corporations to alleviate the pandemic’s impact by claiming these credits. If you didn’t claim them before, it’s not too late. File an amended return to claim the credits.
If your net profit was $143,866 on Schedule C or you had equivalent W-2 wages, you could qualify for up to $32,220 in refundable tax credits.
Breakdown:
- Up to $15,110 under the 2020 rules
- Up to $17,110 under the 2021 rules
To claim the credits, self-employed individuals should file a completed 2021 Form 7202 and IRS Form 1040-X. Corporations can amend payroll tax returns using Form 941-X.
Don’t delay! Claim your credits now and put that money to work for you. Book your free assessment here.