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

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?

posted

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.**

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.

I received a NYS IT-204-IP. In Partners Credit information, Part 2, there is a code 256 with an amount. It won't fill in the correct section on IT-256. Thoughts?

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

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

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