Count recurring income on an open-ended basis from the first day of the e. Counting Recurring month after the month during which the recurring income is first received. If Income there is a change in recurring income, adjust the award effective the first day of the month after the change occurs. A Veteran receives a retirement check in the amount of $200 on Example: March 14, 2014. The Veteran expects to receive a $200 check on or about the 14th of each month for the indefinite future. Increase IVAP by $2,400 ($200 x 12) effective April 1, 2014. f. Counting When irregular income is initially received from a particular source, count it Irregular for 12 months from the first day of the month after the month during which it Income is first received. Thereafter, count irregular income for 12 months from the beginning of the calendar or initial year reporting period during which it is received. Count the lower amount of irregular income during any overlapping periods. However, if the irregular income for the calendar year is zero, then count the irregular income for the full 12-month period. A claimant could be in receipt of multiple types of irregular income. Note: Do lump together different types of irregular income, for example, not interest income and odd-job income. However, it is permissible to lump together the same type of irregular income from multiple sources, for example, interest income from multiple banks or odd-job income from multiple employers. A Veteran has been paid current-law pension based on interest g. Example 1: Example: Counting income of $600 per year. The Veteran submits a claim on May 1, 2015, and Irregular reports receivingonly $500 interest during period of calendar year 2014. . The Income decreased interest is verified upon review of Federal Tax Information (FTI) provided by the Internal Revenue Service (IRS) Adjust from January 1, 2014, subject to (that is, adjust from February 1, 2014, if the change in income causes the pension rate for January 1, 2014, to exceed the December 2013 rate.)
e. Counting Recurring Income Count recurring income on an open-ended basis from the first day of the month after the month during which the recurring income is first received. If there is a change in recurring income, adjust the award effective the first day of the month after the change occurs. Example: A Veteran receives a retirement check in the amount of $200 on March 14, 2014. The Veteran expects to receive a $200 check on or about the 14th of each month for the indefinite future. Increase IVAP by $2,400 ($200 x 12) effective April 1, 2014. f. Counting Irregular Income When irregular income is initially received from a particular source, count it for 12 months from the first day of the month after the month during which it is first received. Thereafter, count irregular income for 12 months from the beginning of the calendar or initial year reporting period during which it is received. Count the lower amount of irregular income during any overlapping periods. However, if the irregular income for the calendar year is zero, then count the irregular income for the full 12-month period. Note: A claimant could be in receipt of multiple types of irregular income. Do not lump together different types of irregular income, for example, interest income and odd-job income. However, it is permissible to lump together the same type of irregular income from multiple sources, for example, interest income from multiple banks or odd-job income from multiple employers. g. Example 1: Counting Irregular Income Example: A Veteran has been paid current-law pension based on interest income of $600 per year. The Veteran submits a claim on May 1, 2015, and reports receivingonly $500 interest during period of calendar year 2014. . The decreased interest is verified upon review of Federal Tax Information (FTI) provided by the Internal Revenue Service (IRS) Adjust from January 1, 2014, subject to (that is, adjust from February 1, 2014, if the change in income causes the pension rate for January 1, 2014, to exceed the December 2013 rate.)