Faq’s - Direct Funder - Your FFCRA Tax Refund Experts

Faqs

Frequently Asked Questions!

Explore the sections on this page to find answers to general FFCRA questions, eligibility criteria, details about our processing fees, and essential forms for IRS submission. If you have further inquiries or need personalized assistance, feel free to reach out to our dedicated support team. We're here to guide you through every step of the FFCRA application process.

What does FFCRA stand for?

FFCRA stands for the Families First Coronavirus Response Act, a federal law designed to provide tax credits to self-employed individuals and small business owners affected by COVID-19.

Is FFCRA only applicable to businesses directly impacted by COVID-19 closures?

No, FFCRA is designed to support all self-employed individuals and small business owners who experienced disruptions due to COVID-19, irrespective of the specific cause.

How does FFCRA differ from other relief programs?

FFCRA focuses specifically on providing tax credits to self-employed individuals, offering a retroactive refund for income taxes paid in 2020 or 2021 due to COVID-related issues.

Can I apply for FFCRA if I've already received relief from other programs like PPP or EIDL?

Absolutely, FFCRA is a separate program, and you can apply for its benefits even if you've received assistance from other relief programs.

Is FFCRA a loan or a grant?

FFCRA is not a loan; it's a retroactive tax credit. The amount can either reduce your current tax liability or be directly refunded to you.

What does Direct Funder's "Maximum Advantage Assurance" guarantee cover, and how does it benefit me?

Our "Maximum Advantage Assurance" guarantee ensures that you won't find a more accurate or higher refund amount with any other service provider. If you do, we'll match that higher amount and provide you with an additional $500. This guarantee gives you the confidence that you're getting the most money possible and highlights our commitment to accuracy and excellence in the FFCRA application process.

Eligibility

Who qualifies for the FFCRA program?

Wondering if you qualify for FFCRA? Here's a few of the most common questions we get asked about who qualifies.

Who is eligible for FFCRA benefits?

Self-employed individuals and small business owners, including sole proprietors, freelancers, and gig workers, who faced COVID-related disruptions are eligible.

What if I've never heard of FFCRA before?

You're not alone. Research shows that over 80% of self-employed individuals are unaware of their eligibility. FFCRA is here to help you, whether you're recovering from COVID challenges or looking to boost your business.

Can I apply if I missed work due to reasons not directly related to COVID-19?

No, FFCRA specifically addresses situations related to COVID-19, such as quarantine, childcare challenges due to closures, illness, vaccination, and related issues.

What documentation do I need to apply for FFCRA?

Documentation may include dates you missed work, quarantine orders, childcare closures, or vaccination appointments. Our experts will guide you through the necessary documentation and most only require your good faith input.

How much can I qualify for under FFCRA?

Eligible individuals can qualify for refunds up to $32,200 and couples up to $64,440, providing significant financial support during these challenging times.

Faqs

Processing and Fees

From retainer fees to processing times, here you'll find all the answers to your questions and more.

What are the processing fees for Direct Funder's FFCRA services?

Our processing fees are structured to be reasonable and transparent. We charge a $350 retainer fee at the time of application and a 15% fee on the back end when you receive your refund.

Is the $350 retainer fee refundable?

Yes, the $350 retainer fee is 100% refundable in the event that your claim is declined by the IRS for any reason.

What services are covered by the processing fees?

Our processing fees cover the entire end-to-end process, including amending tax returns, submitting applications to the IRS, and providing weekly follow-ups until your funds are disbursed.

Can I calculate my potential refund before committing to the application process?

Absolutely! You can use our tax refund calculator on the website to check your eligibility upfront and get an estimate of how much you could claim.

Is FFCRA a loan or a grant?

FFCRA is not a loan; it's a retroactive tax credit. The amount can either reduce your current tax liability or be directly refunded to you.

What does Direct Funder's "Maximum Advantage Assurance" guarantee cover, and how does it benefit me?

Forms and Terminology

Tax Prep Questions: IRS Submission

Questions regarding the IRS processing or the many forms that need to get filed?

What forms do I need to submit to the IRS for the FFCRA application process?

The primary form is the amended Form 7202, which is used to claim the FFCRA tax credits for self-employed individuals. Our experts will guide you through the process and complete and submit this form for you.

How does Direct Funder assist with the completion of Form 7202?

Direct Funder takes care of the entire process, including completing and amending your tax returns, ensuring accurate information on Form 7202, and submitting it to the IRS on your behalf.

Do I need to provide any supporting documentation along with Form 7202?

Depending on your situation, we may need to include evidence of missed work, quarantine orders, childcare closures, or vaccination appointments. Our team will guide you on the necessary documentation. Usually, providing us specific dates and times is sufficient.

What documentation do I need to apply for FFCRA?

Is there a deadline for submitting Form 7202 for FFCRA benefits?

While there isn't a specific deadline for submitting Form 7202, it's recommended to do so as soon as possible to expedite the processing of your FFCRA tax credits.

Does Direct Funder help with the submission of other necessary tax forms?

Absolutely. Our expertise extends beyond Form 7202. We can assist with any additional forms required for your specific tax situation, ensuring a comprehensive and accurate submission to the IRS.

How long does the IRS processing typically take for FFCRA applications?

The processing time can vary, but our goal is to submit your claim as quickly as possible after gathering all necessary information. The IRS will then review and process your application, and we provide regular follow-ups to keep you informed. On average we see refunds being issued in 16-24 weeks after submission.

Can I track the status of my FFCRA application with the IRS through Direct Funder?

Yes, we provide regular follow-ups and updates on the status of your application. Our team communicates with the IRS on your behalf to ensure a smooth and efficient process.

Is there a checklist available for the forms and documentation required for FFCRA submission?

Yes, we provide a comprehensive checklist outlining the forms and supporting documentation needed for your FFCRA application in your client portal. This ensures a smooth and organized submission process.

What happens if there are discrepancies in the information submitted to the IRS?

In the rare event of discrepancies, Direct Funder works diligently to rectify any issues. We maintain clear communication with the IRS and address discrepancies promptly to ensure the success of your FFCRA application.

$500 Maximum Refund Guarantee

Guaranteed Peace of Mind with Our FFCRA Service!

We're so confident in our expertise and the efficiency of our proprietary process that we offer you an unbeatable guarantee. If you find a more accurate or higher refund amount elsewhere, we'll not only match it but sweeten the deal with an extra $500 in your pocket.

At Direct Funder, we're committed to ensuring you get the maximum financial benefit from the FFCRA. Our proprietary system, designed by tax experts, streamlines the entire process, making it the easiest journey for you. You're not just a client; you're part of the Direct Funder family, and we've got your back.

With us, it's not just about getting a refund; it's about getting the most you deserve. That's our promise, and we back it with a $500 guarantee. Choose Direct Funder for FFCRA services and experience the assurance of unmatched accuracy and a process that's as easy as it gets. Your peace of mind is our priority."

See Full Terms and Conditions of Our Guarantee

Faqs