Acceptable Income Documentation
| Income documentation requirements are NOT optional. |
|---|
| Current and complete income documentation must be provided for one month's worth of gross household income. Income documentation must be received during the last 60 days. An applicant must submit proof of all income before taxes and deductions. |
For specific requirements, click on the links below.
- Wages
- Self-employment
- Profit & Loss Statement
- Unemployment
- Social Security, Pension, Workers' Compensation and Disability
- Child Support, alimony
- Supporting income documentation
1. Wages
Provide one (1) current paystub (received within the last 60 days).
Documentation must show the following:
- date
- gross income
- deductions, if any
- employee’s name
- frequency of payments
If the employee is new to the job and has not yet received a paystub, the employer can write a letter stating the gross income per pay period. The letter must be signed and dated.
Note: a tax return and W2 are not acceptable documentation for income received from wages.
2. Self-employment
If you are self-employed, you must submit all of the following:
- a copy of your most recent income tax return and schedules;
- if you receive a draw, copies of one month’s worth of income.
If you recently began your business and have not yet filed taxes, you need to submit a Profit & Loss Statement (see III, Profit & Loss Statement).
Example: Someone who subcontracts with one or more individuals or companies and is paid through an invoice is “self-employed.”
3. Profit & Loss Statement
A Profit & Loss Statement must include the following:
- at least one quarter’s current income, unless you have been at this job less than one full quarter;
- a clearly indicated time frame (first and last month) for which this information is being submitted.
| Sample – Profit & Loss Statement | |
|---|---|
| Quarter: July 1, 2008 – September 30, 2008 | |
| Gross revenue | $_______________ |
| Minus itemized business expenses | - $_______________ |
| Equals net income | $_______________ |
4. Unemployment
You must provide one of the following:
- the award letter;
- copies of recent check stubs or a bank statement that shows direct deposit.
5. Social Security, Pension, Workers’ Compensation, and Disability
You must provide:
- a copy of the most recent check, award letter, or a bank statement that shows direct deposit.
6. Child support, alimony
You must provide one of the following:
- Copy of the current award letter;
- a printout from Domestic Relations showing the latest payment activity;
- a printout of credit card statement for EPPI payments;
- current bank statements;
- current letter from child’s other parent indicating amount and frequency of support payments. The letter must be signed and dated.
7. Supporting income documentation
A signed letter explaining the applicant’s situation may be included to support any of the documentation provided, but cannot be used alone as documentation.
