Tax Law and News New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Intuit Accountants Team Modified Apr 12, 2022 1 min read The IRS recently announced that Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals, is now available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA). The tax credits will be claimed on the 2020 Form 1040 for leave taken between April 1, 2020, and Dec. 31, 2020, and on their 2021 Form 1040 for leave taken between Jan. 1, 2021, and March 31, 2021. The FFCRA, passed in March 2020, allows eligible self-employed individuals who, due to COVID-19 are unable to work or telework for reasons relating to their own health, or to care for a family member to claim refundable tax credits to offset their federal income tax. The credits are equal to either their qualified sick leave or family leave equivalent amount, depending on circumstances. IRS.gov has instructions to help calculate the qualified sick leave equivalent amount and qualified family leave equivalent amount. Who may file Form 7202 Eligible self-employed individuals must: Conduct a trade or business that qualifies as self-employment income, and Be eligible to receive qualified sick or family leave wages under the Emergency Paid Sick Leave Act as if the taxpayer was an employee. Taxpayers must maintain appropriate documentation establishing their eligibility for the credits as an eligible self-employed individual. Previous Post Educators can now deduct out-of-pocket expenses for COVID-19 protective items Next Post Common tax-filing errors to avoid Written by Intuit Accountants Team The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us at https://proconnect.intuit.com, or follow us on Twitter @IntuitAccts. More from Intuit Accountants Team Comments are closed. Browse Related Articles Tax Law and News Tax credits available to small employers to provide pai… Tax Law and News What you need to know about the Families First Coronavi… Tax Law and News American Rescue Plan: Essential insights for businesses Tax Law and News How self-employed individuals and household employers c… Tax Law and News What to know about COVID-19 and taxes: deadline delays,… Tax Law and News Tax Year 2017 Tips for Self-Employed Clients Tax Law and News IRS Announces New Employer Tax Credit for Paid Family a… Tax Law and News Employee Retention Credit: key benefit for small busine… Tax Law and News New COVID-19 relief package passed Tax Law and News IRS readies nearly 4 million refunds for unemployment c…