How does this work if you are due a tax refund and have public assistance (Food Stamps, Medicaid, SSI)? Eventhough this is a one time payment, it will put us over the monthly allowance.
Do they really count it as income? I imagine most people who are on assistance get a big chunk come tax time, you'd think they would either include it with yearly income, or not count it at all. Thining about it, when we had WIC and my kids were on medicaid, I don't recall ever having to mention our tax refund.
The Fed is a good chunk of change. MO is like $34. We still have Kansas to do though. We owe Montana about $500. But we could pay that off with the refund.
I've been on food stamps and medicaid for a few years now and it does not count against you. It is a one-time thing and obviously doesn't happen month to month. Just catch up on your bills and thank your lucky stars!
Yep, it is a one time thing that does not count against you, but you do need to spend it within a month. If it sits in your account for more than a month, it is counted as an asset. I am getting back a HUGE refund this year, and am trying to figure out if I am going to put it toward student loan debt, or buy a vehicle. Either way, I need to get it out of my life pretty quickly. I so wish I could just stash most of it away in savings.
We are as some of the above posters stated, wanting to save some of it, so I'm just pulling a chunk out as cash on hand, so it doesn't show in my account. It is my cash emergency fund...
I'm pretty sure it is already accounted for because public assistance is based on gross wages, not net, so the taxes you are getting back are from gross. Maybe I'm totally off on this.
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