On April 16, both HUD and the IRS announced new guidance related to the stimulus checks of $1,200 received by individuals.
HUD clarifies handling of stimulus checks for income calculations
HUD updated their 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. LeadingAge had urged the agency to issue guidance for affordable housing providers who calculate rent amounts and housing program eligibility based on a resident’s income.