Last month, we shared several COVID-19 related FAQs compiled by Multifamily's Compliance Department. We have since received clarification from HUD on the question regarding how to calculate stimulus and CARES Act unemployment income. See below for the updated information.
Q: How should the stimulus payment and additional CARES Act additional unemployment income of $600 per week be calculated?
A: Stimulus payments of up to $1,200 and the temporary $600 per week of unemployment insurance provided by the CARES Act should not be included in calculations of income. However, regular unemployment payments are to be included as income.
To read the rest of the FAQs, click
. If you have any compliance-related questions, send an email to