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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 34 Chapter 5 Assets

An Individual Retirement Account (IRA) type of account designed to pay education expenses. The cash value of the account, minus any penalty for non-qualified withdrawals, is counted as an asset for the account owner, not the student beneficiary. 5.5.14 EITC (EARNED INCOME TAX CREDIT) SNAP: EITC payments are excluded for 12 months from the date of receipt, if the recipient of the EITC is an AG member at the time of receipt and participates continuously during the 12-month period. AGs that temporarily do not participate for administrative reasons, (i.e., redetermination), but who are otherwise eligible, do not lose the exclusion. WV WORKS: EITC payments are excluded in the month of receipt and the following month only. This applies when received as part of the person’s pay or as one payment at end of the year. SSI Medicaid Groups: Remaining portions of EITC payments are excluded for 9 months following the month of receipt. This applies when received as part of the person’s pay or as one payment at the end of the year. 5.5.15 EQUIPMENT ESSENTIAL FOR EMPLOYMENT SNAP: Property, such as the tools of a tradesman or the machinery of a farmer, which is essential to the employment or self-employment of an AG member, is excluded. This exclusion continues during periods of unemployment due to physical inability to work as long as the individual intends to return to work when physically able. Property essential to the self-employment of an AG member engaged in farming is excluded for one year from the date he terminates his farming self-employment. Vehicles and recreational vehicles/equipment are excluded regardless of use. SSI Medicaid Groups: SNAP WVW, AFDC-Related SSI Groups No WVW - No AFDC Groups - Yes Yes SNAP WVW, AFDC-Related SSI Groups No* No* No* SNAP WVW, AFDC-Related SSI Groups No* Yes No*