TALLAHASSEE, Fla. (WTXL) — Some Americans may be eligible for a huge tax break if they were unable to work because of their own health or because they had to care for a sick family member.
The Internal Revenue Service implemented the Families First Coronavirus Response Act this tax season.
It applies to self-employed people who had to take leave between April 1, 2020, and December 31, 2020.
Eligible self-employed individuals will determine their qualified sick and family leave equivalent tax credits with the new IRS Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals.
According to the IRS, the credit "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."
There are two separate amounts you could receive: sick leave, up to $2,000, and family leave, up to $10,000.
The IRS says certain restrictions apply.
For more information or to see if you qualify, click here.