Polarization imaging methods are actively used to study anisotropic objects. A number of methods and systems, such as imaging polarimeters, were proposed to measure the state of polarization of light that passed through the object. Digital holographic and interferometric approaches can be used to quantitatively measure both amplitude and phase of a wavefront. Using polarization modulation optics, the measurement capabilities of such interference-based systems can be extended to measure polarization-dependent parameters, such as phase retardation. Different kinds of polarization rotators can be used to alternate the polarization of a reference beam. Liquid crystals are used in a rapidly increasing number of different optoelectronic devices. Twisted nematic liquid crystals are widely used as amplitude modulators in electronic displays and light valves or shutter glass. Such devices are of particular interest for polarization imaging, as they can be used as polarization rotators, and due to large-scale manufacturing have relatively low cost. A simple Mach–Zehnder polarized holographic setup that uses modified shutter glass as a polarization rotator is demonstrated. The suggested approach is experimentally validated by measuring retardation of quarter-wave film.