The Families First Coronavirus Response Act (FFCRA) was enacted on March 18, 2020 to help those affected by coronavirus by requiring certain businesses to provide workers who are unable to work or telework due to circumstances related to the coronavirus with paid leave benefits. The act offsets the costs of providing the affected individuals with paid leave benefits through refundable tax credits against employment tax.
To adjust the net earnings and use the amount you earned in 2020 to figure the credit:
- Federal Section
- COVID-19 Relief
- Form 7202
- Adjust your net earnings from self-employment
- Enter the amount you wish to adjust your earnings by to match the 2020 earnings (if you made less in 2020, enter the difference as a negative)
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