IRS Issues Warning on Misleading “Self-Employment Tax Credit” Claims on Social Media

The IRS has issued a consumer alert advising taxpayers to disregard misleading information circulating on social media about a fictitious “Self-Employment Tax Credit.” Through this new fraudulent scheme, unscrupulous promoters falsely claim that self-employed individuals and gig workers can obtain substantial payments for the COVID-19 period. The purported credit is, in fact, the Credits for Sick Leave and Family Leave, which are narrowly applicable to specific COVID-19-related circumstances in 2020 and 2021, and are not available for 2023 tax returns. IRS Commissioner Danny Werfel emphasized the necessity of consulting with a reputable tax professional rather than relying on dubious social media sources or marketers.

If you would like to read more, please visit:
https://www.irs.gov/newsroom/irs-warns-taxpayers-about-misleading-claims-about-non-existent-self-employment-tax-credit-promoters-social-media-peddling-inaccurate-eligibility-suggestions