Will I Get Taxed on Sick Leave Pay?
The COVID-19 outbreak has had a huge impact on the way people live and work, and many workers are finding their jobs directly affected by the pandemic. Many workers who believe they might have gotten exposed to coronavirus have chosen to quarantine themselves, and others might find themselves in a position to have to consider self-quarantine measures in the near future.
For those fortunate enough to have paid sick leave, the benefits they've earned will help them replace lost income for as long as their paid leave lasts. Yet one question that often comes up is whether those receiving sick leave pay will see their take-home benefit reduced by taxes. Unfortunately, the answer is often yes, but there are some situations in which pay for injury or illness escapes taxation. Below, we'll look at the rules governing sick leave pay and taxes.
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Source Fool.com
