C Flex Credits Example 1

FAA6.N Examples : 25 Earned Income (EAIN/EAIC) Examples : C Flex Credits Example 1

Flex Credits Example 1

John applies and is interviewed on April 30. He provides the following pay stubs:

Date Paid	Hours	Gross Amount
04/03	40	$420
04/10	40	$420
04/17	40	$420
04/24	40	$420

John receives a flex credit in the amount of $120 on each of his pay stubs. John states during the interview he receives cash for the flex credit and it is added to his gross pay.

Key the following on EAIC:

INC TYPE: WA		FREQ: WK		NUMBER OF PERIODS
PERIOD	DATE PAID		HOURS	HR. RATE	GROSS AMOUNT
01	04/03		40.00		300.00
02	04/10		40.00		300.00
03	04/17		40.00		300.00
04	04/24		40.00		300.00

NOTE The flex credit must be subtracted from the gross pay and budgeted as countable income on a separate income screen.

For the flex credit, key the following on a separate EAIC screen:

INC TYPE: OT		FREQ: WK		NUMBER OF PERIODS
PERIOD	DATE PAID		HOURS	HR. RATE	GROSS AMOUNT
01	04/03		40.00		120.00
02	04/10		40.00		120.00
03	04/17		40.00		120.00
04	04/24		40.00		120.00