Curious about FFCRA? Let's break it down in plain English
FFCRA Stands For The Families First Coronavirus Response Act
This law was crafted to support folks during the pandemic. Now, here's the cool part—it's not a loan; it's like the government's way of saying, 'Hey, we got your back!'
So, what does it do?
Imagine you're self-employed or running a small gig, and COVID throws a wrench in your plans—FFCRA steps in to provide tax credits. It's not some bureaucratic maze; it's a straightforward way of getting back the bucks you deserve.
Whether you're a freelancer, rideshare driver, Etsy shop owner, or the creative brain behind your small biz, FFCRA could be your financial superhero. It's all about giving you a hand when you've had to miss work due to quarantine, childcare hurdles, illness, vaccination stuff, or other COVID-related hiccups.
In a nutshell, FFCRA is like a financial friend, there to help you get back on your feet without any tricky paperwork acrobatics. So, if you've been wondering, 'What's the deal with FFCRA?'—now you know! It's Uncle Sam saying, 'We've got your back during these unpredictable times.'
Unlike the Paycheck Protection Program (PPP), FFCRA doesn't come with the loan baggage. It's not a loan; think of it as a nifty retroactive tax credit playing a role in your 2020 or 2021 income taxes. Picture this: it'll either trim down the bill you owe Uncle Sam right now or drop a check or ACH deposit straight into your pocket, depending on your tax situation.
And here's the beauty of it—all those FFCRA credits sent directly your way? Yours to spend however you see fit. No payback, no strings attached. It's like a financial boost with the freedom to use it where it matters most for you.
Wondering if you're included?
Who Qualifies?
Who's in the FFCRA crew? Let's keep it simple.
If you're self-employed, an independent business owner, or the brains behind a small gig, you're in the game. Now, did you miss some work because of COVID? Maybe it was the quarantine hustle, juggling closed schools, or dealing with vaccine vibes—whatever the case, if COVID threw a wrench in your work plans, you could be in line for some serious cash.
Are you a rideshare driver, a freelancing genius, an Etsy extraordinaire, or a master of the gig economy? Yep, you count. Whether you're into art, fitness, coding, or any other gig that's uniquely you, FFCRA could be your financial sidekick.
So, if you're nodding along and thinking, 'Hey, that's me!'—you might be eligible for FFCRA goodness. It's not about jumping through hoops or doing complex tax gymnastics. It's Uncle Sam saying, 'You've been through enough; here's a little help to keep you going.' Cheers to getting what you deserve!
Your three (3) main qualifiers:
- You're self-employed, a gig worker, sole proprietor, freelancer, or small business owner
- You missed out on work due to covid related issues
- You filed a schedule C for your earned income on your 2020 and/or 2021 taxes
Factors contributing to loss of work:
- QUARANTINE: Quarantine or isolation directives by a medical professional or government mandate
- CHILDCARE: Taking care of your child due to Covid-19 or because their school or daycare was closed due to Covid-19
- ILLNESS: You were experiencing Covid-19 symptoms or you were taking care of someone exhibiting Covid-19 symptoms
- VACCINATION: You experienced side effects from the Covid-19 vaccination or had an appointment for the vaccination
Getting Started is Easy!
How Do I Apply?
- STEP 1: Use our proprietary tax credit calculator to see if you qualify and how much you qualify for instantly.
- STEP 2: Complete and sign our engagement letter which allows us to file all the necessary paperwork on your behalf.
- STEP 3: Pay your $350 retainer fee. This is is 100% refundable if you do not get a refund for any reason.
- STEP 4: Upload your documents in your client portal
- STEP 5: Wait for your funds to arrive directly from the IRS