Managing SETC Tax Credit Limitations and RestrictionsDespite the significant benefits of the SETC Tax Credit, it is crucial to understand its limitations and restrictions.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 Tax Credit does not count as taxable income, so no extra tax liability will be generated by the credit.However, there are some restrictions you should be aware of.The full SETC amount cannot be claimed if you received wages for sick or family leave from your employer, or unemployment benefits throughout 2020 or 2021.Also, if you missed filing your initial tax return and now wish to claim or amend SETC credits, you can do so by filing an amended return within the specified deadlines set for the 2020 and 2021 tax returns.