Navigating SETC Limitations and RestrictionsIt’s essential to comprehend the limitations and restrictions of the SETC Tax Credit, despite its considerable benefits.As an illustration, claiming the SETC Tax Credit can increase your adjusted gross income, potentially affecting your eligibility for other tax credits and deductions.However, the SETC is not treated as taxable income, ensuring no additional tax liability will arise from the credit itself.That said, there are some restrictions to keep in mind.The entire SETC amount is not claimable if you were paid wages for sick or family leave by an employer, or unemployment benefits in 2020 or 2021.Moreover, if you missed filing your initial tax return and now wish to claim or amend SETC credits, you can do so by submitting an amended return within the deadlines specified for the 2020 and 2021 tax returns.