What is the SETC Tax Credit?
 
 The SETC, short for "Self-Employed Tax Credit", is a specialized tax credit created to give financial relief to self-employed people who were harmed by the COVID-19 pandemic. This credit was brought in as part of the Families First Coronavirus Response Act (FFCRA) to support sole proprietors, independent contractors, gig workers, and other self-employed professionals facing 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 qualified self-employed workers can receive the credit as a refund, even if they have no tax liability.  https://giphy.com/channel/archerbell0  reduces their tax burden on a dollar-for-dollar basis, possibly leading to a significant increase in their tax refund.
 
 The SETC tax credit is intended to give self-employed workers financial support like the paid sick and family leave benefits typically offered to employees. By providing this credit, the government recognizes the unique challenges faced by the self-employed sector during the pandemic and attempts to mitigate income disruptions and promote greater financial stability for these professionals.