IRS Warns of Misleading ‘Self-Employment Tax Credit’ Posts

The Internal Revenue Service issued a consumer alert Monday following bad advice circulating on social media about a non-existent “self-employment tax credit” that’s misleading taxpayers into filing false claims.

Promoters and social media are marketing the credit as a way for self-employed people and gig workers to get payments for work during the Covid-19 pandemic. There is inaccurate information suggesting many people qualify for the tax credit and payments of up to $32,000 when they do not, the IRS said.

The underlying credit being referred to in social media is a limited and technical credit called Credits for Sick Leave ...