IRS warns about misleading claims of non-existent Self Employment Tax Credit

The IRS issued a consumer alert following bad advice circulating on social media about a non-existent Self Employment Tax Credit that’s misleading taxpayers into filing false claims.

Promoters on social media are marketing what they describe as the “Self Employment Tax Credit” as a way for self-employed people and gig workers to get big payments for the COVID-19 pandemic period.

Similar to misleading marketing around the Employee Retention Credit, these promoters share inaccurate information suggesting many people qualify for the tax credit and payments of up to $32,000.

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