We know time is valuable, and we will save you tons! NMA’s PIH Alert, one of our most helpful services for the affordable housing industry, allows public housing agencies (PHAs) and housing professionals to stay current with HUD’s new regulations, notices, and guidance—without having to worry about finding it yourself.

Disasters often strike unexpectedly and include a wide range of events. That’s why it’s important to be prepared before a disaster hits your community. By planning for disasters before they happen, you can help ensure your PHA has adequate resources and is ready to respond should a disaster affect your area. The information presented below aims to help your PHA create proper disaster plans and procedures as well as utilize all funding and resources that may be available during and after a disaster. This is a four part series, so be on the lookout for part two coming out next week!

The importance of updating PHA policies

HUD issues new regulations, notices, and guidance on an ongoing basis, and PHAs are expected to stay abreast of these changes to remain in compliance and avoid audit findings. However, making sure your agency’s policy documents are in line with HUD can be a daunting, time-consuming task—not only do you need to know what’s changed and why, but you must also revise your policies accordingly.

PHAs who are out of compliance—depending on the reason—may be subject to monitoring and sanctions, or worse, lose out on program funding. Fair housing complaints can result from a lack of clear and current policies, and in the Housing Choice Voucher program, some incorrect policies can affect SEMAP as well.

Fortunately, there’s a solution. Our model policies and revision services take the guesswork out of keeping your policies up-to-date and in compliance, providing you with expert guidance in a timesaving, user-friendly format.

Community development and housing news for June 13, 2019

President Trump signs package to deliver disaster relief funds, the Affordable Housing Credit Improvement Act of 2019 bill is proposed, Cities of Service Awards $150,000 to six cities for New Experience Matters Program, and other stories we're following this week.

Breaking news

President Donald Trump signed a package on June 6 that would deliver $19.1 billion in disaster relief.

The bill includes $600 million in nutrition assistance for Puerto Rico, $3 billion for farmers to help cover crop losses, $1.6 billion to help repair damaged highways, $720 million for the U.S. Forest Service to help cover wildfire suppression efforts, and $120 million to help the National Park Service repair damaged public lands. Read more

Question

One of our clients recently reported that he cashed in a 401(k) account. The full value of the account was $25,000. $7,000 was deducted for taxes and the client received the remaining $18,000. What should we count as income, the full gross amount or the net amount received after taxes?