Calculating the SETC Tax Credit RefundAfter determining your eligibility 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 influenced by your daily self-employment income on average and the total workdays you missed due to COVID-19 impacts.For instance, the sick leave credit amount is equal to the lower of $511 USD or all of your average daily self-employment income for a set number of days when you were unable to work because of reasons like being quarantined or having COVID-19 symptoms.On the other hand, the qualified paid family leave equivalent amount is the lower of $200 or 67% of your daily income from self-employment on average. This applies for the days in which you were unable to work 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 don't share the qualifying COVID days.To calculate your SETC Tax Credit, you would use IRS Form 7202, which takes into account eligibility based on self-employment status and COVID-related disruptions, as well as the family leave credit.