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

rdeshong · ‎April 11, 2021

I took a pay cut in 2020 due to covid. Is there any tax credits or deductions?

xmasbaby0 · ‎April 11, 2021

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 · ‎April 11, 2021

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