According to your stated income and some other factors taken into consideration, it appears you could qualify for a total tax refund in the amount of:
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Yes you can. However, we do highly recommend you hire a CPA or tax professional. Below are the basic steps you can follow to file your claim on your own.
To claim the FFCRA tax credits, you need to determine your eligibility. This involves assessing your status as a self-employed individual, freelancer, or small business owner who has been affected by COVID-19.
If you decide not to hire a Certified Public Accountant (CPA), you'll need to perform your own audit on your income and qualifiers. This includes a thorough examination of your financial records to ensure accuracy and completeness.
Filing an amended tax return comes with complex rules and regulations. You must be familiar with these rules to ensure your claim is in compliance with the IRS guidelines.
Identify the specific dates and times when you were unable to work due to COVID-19-related issues. Ensure that these align with the IRS rules for claiming the refund.
Know which forms to file and adhere to the timelines set by the IRS. Missing deadlines or using incorrect forms can result in delays or rejections of your claim.
If you choose to file on your own, you'll need to follow up with the IRS regularly. Approximately 30% of self-filed claims get put on hold and may not be processed without consistent follow-up. Be prepared to invest time in checking the status of your claim.