Calculating Your SETC Tax Credit Refund AmountOnce you've established that you qualify for the SETC Tax Credit, the subsequent step is to calculate your possible refund amount. You can find out how in the following details. https://officialsetcrefund.com/learn/irs-warns-of-false-self-employment-tax-credit-setc-tax-credit/ is determined by your daily self-employment income on average and the total workdays you missed due to COVID-19 impacts.For instance, the qualified sick leave equivalent amount equates to the lower of $511 or all of your average daily income from self-employment for a certain number of days where you couldn’t work due to reasons like being quarantined or having COVID-19 signs.On the other hand, the family leave credit amount is the lower of $200 USD or two-thirds of your average daily self-employment income. This applies for the days in which you were unable to work due to COVID-19 related reasons.Moreover, if both you and your spouse are both self-employed, you can both claim up to a specified SETC Tax Credit limit, as long as you don't share the qualifying COVID days.To determine your SETC Tax Credit, you would use IRS Form 7202, which factors in eligibility according to self-employment status and COVID-related interruptions, as well as the family leave tax credit.