Tax credits for independent earners, filed the right way
What is the Self-Employed Tax Credit (SETC)?
The Self-Employed Tax Credit (SETC) was created to provide COVID-era financial relief to independent contractors who lost income due to illness, caregiving, quarantine or related disruptions. Eligible individuals may receive up to $32,220 in refundable tax credits based on lost workdays and earnings.
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Who Qualifies?
This credit is available to most 1099 filers including:
Rideshare and delivery drivers
Sellers on platforms like Etsy, Uber, Fiverr, DoorDash and more
Freelancers, creators and consultants
Self-employed professionals and contractors
You may be eligible if you missed work due to COVID-related illness, school or childcare closures or caregiving between 2020 and 2021.
See If You Qualify for the SETCWhat Anchor Accounting handles for you
Full credit calculation based on IRS SETC formulas
Historical income and workday documentation
IRS Form 7202 and Schedule SE preparation
Amendments for tax years 2020 and 2021
Secure filing, tracking, and audit documentation
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Why gig workers are often overlooked
Independent earners often miss out on credits like SETC, not because CPAs don’t care, but because these credits fall outside the scope of most standard filings. Filing platforms rarely surface them and the IRS documentation can be confusing.
At Anchor, we focus specifically on these overlooked programs, supporting gig workers and their CPAs with the tools and expertise needed to navigate them effectively. That focus has helped us support over $622 million in credit filings for self-employed clients.
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Anchor is your credit partner, not just a filing tool
Our work doesn’t stop after you submit your return. We provide audit protection, post-filing tracking and updates on new legislation that may impact future credits. As relief programs evolve, we’ll help you claim what’s next.
