COVID Payments do not count as income!

HUD memo indicates that no COVID payments will be considered income for low-income families!

OFFICE of Multifamily Housing Programs
Federal Housing Administration
Questions and Answers for Office of Multifamily Housing Stakeholders
Corona Virus (COVID-19)
April 16, 2020 4:00 ET
 
Q4:  Are household payments under the CARES Act reportable as tenant income?   

A:  Household stimulus payments of up to $1,200 (which is technically an advance tax credit) and the temporary $600 per week federal enhancement to unemployment insurance provided by the CARES Act are not to be included in calculations of income. However, HUD notes that regular payments of unemployment insurance (issued by the state) are treated as income, as is customary under program rules.  ( Page 9 )

 


Thank you, HUD!

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