Did you or your corporation claim the 2021 sick and family leave credits?

If not, you can do it now with an amended return(s).

Also, if you didn’t claim the 2021 credits, it’s likely you did not claim the 2020 credits. If that’s the case, it’s possible that you could claim all 2020 and 2021 available credits of up to $32,220 on your 2021 tax return(s).

You read that right: with at least $143,866 of 2021 net profits on Schedule C, or with the equivalent in W-2 wages from your corporation, you could qualify for up to $32,220 in refundable tax credits, as follows:

up to $15,110 under the 2020 rules, and

up to $17,110 under the 2021 rules.

The 2020 rules apply

from April 1, 2020, through December 31, 2020 (2020 tax returns), and

from January 1, 2021, to March 31, 2021 (2021 tax returns).

We covered the 2020 rules that applied from April 1, 2020, through December 31, 2020, in Claim Your Overlooked 2020 COVID Sick and Family Leave Credits, where you saw ... Log in to view full article.