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Iowa LIHEAP Policy and Procedures Manual 6.00 Income
Effective 09/01/2023
Page | 17
$2,000 (quarterly gross income) $2,000 x 4 (quarters per year) = $8,000 (annual gross income)
● Paid Semi-Annual Example: $5,000 (semi-annual gross income) $5,000 x 2 (payments per year) = $10,000 (annual gross income)
● Paid Annual Example: $18,000 (annual gross income)
6.50 Atypical Scenarios
● Paid Weekly Example:
LIHEAP customer received three paychecks instead of four because they were off work for a week. Collect the three most recent paychecks. $400 + $200 +$0 + $100 = $700 $700 / 4 = $175 (average weekly gross income) $175 x 52 (paychecks per year) = $9,100 (annual gross income)
● Paid Bi-Weekly Example:
Collect the two most recent two paychecks, even if it is a three-paycheck month. $800 + $900 + $0 = $1,700 $1,700 / 2 = $850 (average bi-weekly gross income) $850 x 26 (paychecks per year) = $22,100 (annual gross income)
● Self-Employment Example:
Collect the most recent Federal tax return, or gross income for the most recent 30 calendar days, most recent 12 months, or most recent calendar year. $13,000 Federal tax return (annual gross income) OR $500 + $600 + $300 + $400 + $100 = $1,900 (average monthly gross income) $1,900 x 12 (months) = $22,800 (annual gross income)
Determination of income may vary depending on circumstances. For households using paystubs, use the gross amount (gross amount before any pre-tax deductions) on the stub. When unable to obtain gross income before pre-tax deductions, use taxable gross amount (the gross amount after any pre-tax deductions).
Only use actual/reported income when no pay frequency is available. For example, if the LIHEAP customer just started a new job and was just paid but there is no pay frequency established, enter the pay as actual/reported.
6.60 Bank Statements Bank statement requirements:
● Printed bank statements with redacted customer name and/or deposit information are unallowable. ● Not all online banking documentation (e.g., screenshots, printouts) will identify the bank or the customer name but is considered acceptable income documentation, when presented by the customer.