HUD Clarifies Handling of Stimulus Checks for Income Calculations

On April 16, HUD updated its COVID-19 FAQs for Multifamily Housing Providers to state that the stimulus checks, and the enhanced unemployment insurance assistance, should not be counted toward income. Because the stimulus assistance is technically an advance tax credit, and because the up to $600 per week federal unemployment insurance payments issued under the CARES Act are temporary, they 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 HUD Handbook 4350.3, par. 5-5(A)(1).