HUD Provides Guidance for Pandemic Unemployment Compensation
On Thursday, April 16, 2020, HUD posted an updated Questions and Answers for Office of Multifamily Housing Stakeholders.n nIncluded is guidance pertaining to payments under the CARES Act. This includes household stimulus payments and Pandemic Unemployment Compensation. n nQ4: Are household payments under the CARES Act reportable as tenant income? n nA: 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.