What is the SETC Tax Credit?
 
 The SETC, meaning "Self-Employed Tax Credit", is a specialized tax credit intended to provide financial relief to self-employed people who were adversely impacted by the COVID-19 pandemic. This credit was implemented as part of the Families First Coronavirus Response Act (FFCRA) to support sole proprietors, independent contractors, gig workers, and other self-employed professionals dealing with economic challenges due to the pandemic.
 
 One of the key features of the SETC tax credit is that it is a refundable credit, not a loan. This means that eligible self-employed workers can get the credit as a refund, even if they have no tax liability. The credit essentially reduces their tax burden on a dollar-for-dollar basis, likely leading to a significant increase in their tax refund.
 
   https://peters-oliver-2.federatedjournals.com/setc-tax-credit-origin-1726176903  is intended to give self-employed individuals financial support comparable to the paid sick and family leave benefits typically offered to employees. By offering this credit, the government recognizes the unique challenges faced by the self-employed sector during the pandemic and attempts to mitigate income disruptions and support greater financial stability for these professionals.