Treatment of CARES Stimulus Checks and Unemployment Insurance Payments

Friday, April 17, 2020

HUD has recently update the COVID-19 FAQ and issued guidance on the treatment of stimulus payments received under the CARES act.  (Bold and underline font have been added for clarity in this announcement.)

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.