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<p><b>Calculating the SETC Tax Credit Refund</b>Once you've established that you qualify for the SETC Tax Credit, the subsequent step involves calculating your potential credit amount. You can learn how below.  https://officialsetcrefund.com/learn/setc-faq/  is influenced by your average daily self-employment income and the total workdays you missed due to COVID-19 effects.For instance, the sick leave credit amount equates to the lesser of $511 or all of your average daily income from self-employment for a set number of days when you were unable to work due to reasons like being quarantined or having COVID-19 signs.On the other hand, the qualified paid family leave equivalent amount is the lesser of $200 or 67% of your daily income from self-employment on average. This applies for the days in which you couldn’t perform services because of COVID-19 related circumstances.Moreover, if you and your spouse are both self-employed, you can both claim up to a specified SETC Tax Credit limit, as long as you do not share the qualifying COVID days.To determine your SETC Tax Credit, you would utilize IRS Form 7202, which takes into account eligibility based on self-employment status and COVID-related interruptions, as well as the family leave credit.</p>

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