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rdeshong
New Member

Is there a tax credit for getting a pay decrease during covid?

I took a pay cut in 2020 due to covid. Is there any tax credits or deductions?
2 Replies
xmasbaby0
Level 15

Is there a tax credit for getting a pay decrease during covid?

No there is no tax credit for that.  But you had less income subject to being taxed.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
VolvoGirl
Level 15

Is there a tax credit for getting a pay decrease during covid?

No.  Did you get any unemployment?  There is a tax exclusion on 10,200 of unemployment.  But for wages you will just have less income to be taxed on.

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