Calculating the SETC Tax Credit RefundOnce you've established that you qualify for the SETC Tax Credit, the next step involves calculating your possible refund amount. You can find out how in the following details. https://lin-simpson.thoughtlanes.net/is-the-setc-tax-credit-legit-1726176740 is influenced by your daily self-employment income on average and the number of workdays missed due to COVID-19 impacts.For instance, the sick leave credit amount equates to the lesser of $511 USD or all of your average daily self-employment income for a certain number of days when you were unable to work due to reasons like quarantine or having COVID-19 signs.On the other hand, the family leave credit amount is the lesser of $200 or 67% of your daily income from self-employment on average. This is applicable for the days in which you couldn’t perform services due to COVID-19 related circumstances.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 do not share the qualifying days related to COVID.To calculate your SETC Tax Credit, you would use IRS Form 7202, which takes into account eligibility according to self-employment status and COVID-related disruptions, as well as the family leave credit.