FAA4.B Liquid Assets (LIAS) : 03 Liquid Asset Types - Overview : V Federal and State Tax Refunds – Child Tax Credit – Liquid Assets
Federal and State Tax Refunds – Child Tax Credit – Liquid Assets
 
(01/01/21 –12/31/21)
Federal tax refunds and Child Tax Credits are not countable as a resource in the month of receipt and the 12 months after the month of receipt.
 
Key OX on the LIQUID ASSETS screen in AZTECS.
 
State income tax refunds are countable as a resource for NA beginning in the month following the month of receipt when all of the following apply:
 
The budgetary unit still has access to the income tax refund money.
The NA budgetary unit is not Categorically Eligible under any of the following criteria:
Basic Categorical Eligibility (BCE)
Expanded Categorical Eligibility (ECE)
Special Basic Categorical Eligibility (SBC)
Special Expanded Categorical (SEC)
 
State tax refunds are countable as a resource for CA beginning in the month following the month of receipt when the CA budgetary unit still has access to the tax refund money.
 
Key OT on the LIQUID ASSETS screen in AZTECS for the CA and NA participant.
 
For treatment as income, see Tax Refunds - Unearned Income