FFCRA that provides comparable credits for self-employed

[mkcpa]

Families First Coronavirus Response Act (FFCRA) for Leave Prior to April 1, 2021. I have a client who owns a recreational axe throwing business. They were part of the industry mandated to close during the pandemic. My client has inquired about a portion of the FFCRA that provides comparable credits for self-employed for self-employed individuals carrying on any trade or business within he meaning of section 1402 of the Internal Revenue Code. Would anyone be able to assist me with this as I am not familiar with it at all?

[Rapid Robert]

See the 3/19/2020 Tax Industry News update from TheTaxBook: Families First Coronavirus Response Act

"Credit for sick leave for certain self-employed individuals. An eligible self-employed
individual is allowed an income tax credit for the 2020 tax year for a qualified sick leave
equivalent amount. An eligible self-employed individual is defined as an individual who
regularly carries on a trade or business and would be entitled to receive paid leave under
Division E of HR 6201 (the Emergency Paid Sick Leave Act) if the individual were an employee
of an employer (other than himself or herself) that is subject to the requirements
of the new law."

There are several paragraphs and examples for self-employed, including family leave credits.

[TaxGuyBill]

I think you are looking for Form 7202 and its Instructions.

[Rapid Robert]

Form 7202 is not available at irs.gov as a current year form. If you follow the link https://www.irs.gov/system/files/irs-pdf/f7202.pdf, you will get Error 404. Sorry, this page is not available. Nor can you get any results if you do a normal form search.

However, you can still find it if you look in prior years, even thought there appears to be a 2021 version of the form.

https://www.irs.gov/forms-pubs-prior-search?search=7202

There are several FAQ pages at the IRS web site, start here for a good overview:

https://www.irs.gov/newsroom/paid-si...mparison-chart