Latest news with #CARES)Act
Time of India
3 days ago
- Business
- Time of India
IRS Stimulus Checks Update: No new $1,390 payout this August, here's what taxpayers should know — Fact Check
Several reports circulating online claim that the IRS has approved $1,390 stimulus checks for eligible households to be distributed later this summer, describing them as tax-free payments aimed at supporting low- and middle-income families. However, these claims are false. Tired of too many ads? Remove Ads Rumors of IRS Stimulus Checks Go Viral No new IRS Stimulus Checks Approved for 2025 Tired of too many ads? Remove Ads The Legislation That Never Passed How Past Stimulus Checks Were Authorized 2008: The Economic Stimulus Act authorized direct payments during the Great Recession. The Economic Stimulus Act authorized direct payments during the Great Recession. 2020–2021: Three major pieces of legislation, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the COVID-related Tax Relief Act, and the American Rescue Plan Act, enabled direct payments during the COVID-19 pandemic. Recovery Rebate Credits Causing Confusion Treasury's Role in Past Stimulus Tired of too many ads? Remove Ads Why the Misinformation Spread Could More Stimulus Come? FAQs Has the IRS approved new stimulus checks for summer 2025? What is the latest IRS stimulus checks update? Rumors circulating online about new Internal Revenue Service (IRS) stimulus checks being issued this summer have been declared false by officials. Claims that taxpayers would soon receive $1,390 stimulus checks are not backed by any legislation or IRS confirmation. According to a fact-check report by The Associated Press, there is no new stimulus payment scheduled for distribution in the coming confusion stems from social media posts and misleading reports suggesting that the IRS had approved additional rounds of payments for low- and middle-income Americans. However, IRS officials have confirmed that no new economic impact payments are planned unless Congress passes fresh legislation, as mentioned in a report by Friday, several viral posts claimed that the IRS had approved $1,390 stimulus checks, sparking widespread speculation. The posts suggested the funds would reach taxpayers by the end of the these claims were swiftly refuted. The IRS clarified that any new round of economic impact payments, commonly known as stimulus checks, must be authorized through legislation. Neither the Senate nor the House has passed such a confirmed that there is no new IRS stimulus check update for 2025. Stimulus checks are not issued solely at the discretion of the IRS or the Treasury Department. They require Congressional approval, followed by Treasury's of the speculation appears linked to a proposal by Republican Senator Josh Hawley of Missouri. In July, he introduced the American Worker Rebate Act, which aimed to provide rebates funded by tariff revenues. The proposed amount included at least $600 per individual, with additional payments for the bill has not advanced. It has neither cleared the Senate nor the House. For now, it remains referred to the Senate Finance Committee with no immediate prospect of becoming law, as confirmed in a report by is important to note that past rounds of IRS stimulus checks eligibility were strictly tied to laws passed by Congress. For example:In each case, Congress enacted laws specifying the payment amounts, income thresholds, and distribution mechanisms. The Treasury Department and the IRS then executed the to the public's misunderstanding is the IRS's announcement earlier this year regarding the Recovery Rebate Credit . The agency distributed about $2.4 billion to taxpayers who had failed to claim credits from 2021. The maximum refundable amount was $1,400 per who had not filed their 2021 tax return were required to do so by April 15, 2025, to qualify. With that deadline long past, there are no new credits officials have reiterated that this one-time correction should not be mistaken for approval of new stimulus Treasury Department, along with its Bureau of the Fiscal Service, managed the distribution of previous payments. These included both pandemic relief checks and earlier stimulus programs during the 2008 Congressional approval, neither the Treasury nor the IRS has the authority to initiate new stimulus suggest that economic uncertainty, coupled with political rhetoric around tax rebates, created fertile ground for misinformation. Hawley's proposal, though not passed, may have been misrepresented online as already headlines referencing IRS refunds and delayed tax credits further contributed to the Taxpayers Should KnowFor now, there is no IRS approves stimulus checks announcement for 2025. Taxpayers are advised to rely only on official IRS releases and Treasury IRS maintains its updates on where verified information about credits, refunds, and other relief measures is no payments are scheduled, political proposals remain on the table. Hawley and other lawmakers have floated the idea of using tariff revenues or other federal funds for unless such bills pass through Congress, taxpayers should not expect any checks. As history has shown, economic impact payments are rare and tied to extraordinary circumstances like recessions or national viral claims, the reality is clear: no new IRS stimulus checks eligibility exists for summer 2025. The rumors are unfounded, and taxpayers should avoid misinformation circulating online. Unless Congress enacts new legislation, the IRS has no authority to distribute additional The IRS has confirmed that there are no new stimulus checks approved for this summer. Any such payments would require Congressional most recent update relates to the Recovery Rebate Credit from 2021, which allowed taxpayers to claim missed COVID-19 payments. That deadline expired on April 15, 2025, and no new credits or stimulus checks are available now.
American Press
11-07-2025
- Business
- American Press
Sulphur business owner found not guilty of stealing COVID funds
Jenilea Pena was found not guilty of stealing federal funds issued to small business owners during the COVID-19 pandemic. (Special to the American Press) A Sulphur woman accused of stealing nearly $100,000 in federal funds issued to small businesses during the COVID pandemic has been cleared of wrong doing. This week a unanimous jury found Jenilea Pena not guilty of wire fraud and making false statements to the government. Pena was one of three owners of Planet Nutrition in Sulphur, owning 25 percent of the business. An indictment filed in federal court on March 20, 2024, claimed Pena filed for a small business loan in 2020 through the Coronavirus Aid, Relief, and Economic Security (CARES) Act without the knowledge of the majority owner. According to the indictment, Pena was accused of using $97,000 of the loan for her own personal use and submitting a fictitious document signed by the majority owner. After a four-day trial, the jury returned a not guilty verdict late Thursday on both counts. Faced with the option to plead to a misdemeanor, 'Jenilea chose the harder path — the path of principle,' according to her attorney, Adam Johnson. 'She stood firm, confident that the truth would prevail. And it did.' Johnson said though Pena was falsely accused, 'she never lost faith in the process, in her integrity or in her God.' 'This verdict is more than a legal outcome,' Johnson said 'It is a restoration of reputation, a reaffirmation of character, and a reminder that justice — though sometimes delayed — is still possible. Jenilea and her family endured a long and painful chapter, but they did so with strength, grace and unwavering resolve.'
Newsweek
13-05-2025
- Politics
- Newsweek
DOJ Calls Transgender Man a 'Woman' Months After Trump Crackdown
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A transgender man convicted of fraudulently collecting COVID funds has been referred to by the Department of Justice (DOJ) as a "woman" in official correspondence. Newsweek reached out to the DOJ for comment. Why It Matters President Donald Trump has been aggressive in tackling transgender policies and issues, with one of his first executive orders recognizing two sexes only—male and female—and stating that they are "not changeable." Along with banning transgender women from competing in women's sports, he has also greenlit a ban on transgender military members that currently is allowed by the U.S. Supreme Court. The Department of Justice seal and logo seen on a lectern at a news conference at the Department of Justice on May 6, 2025, in Washington, D.C. The Department of Justice seal and logo seen on a lectern at a news conference at the Department of Justice on May 6, 2025, in Washington, To Know A press release issued by the U.S. Attorney's Office of the Eastern District of Louisiana refers to Brandon Jarrow, 33, of New Orleans, as a "woman" and mentions former name Brandi Jarrow. On May 8, Jarrow pleaded guilty in federal court to stealing funds and making false statements to receive over $115,000 in loans as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act program that provided relief to individuals and small businesses during the pandemic. The CARES Act was signed into law by Trump in March 2020 to order the U.S. Small Business Administration (SBA) to dole out emergency assistance via the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) program. Jarrow's case stems back to the infancy of the pandemic. Charging documents show that on or about June 20, 2020, Jarrow submitted a false application to the SBA for an EIDL, leading to a loan worth $95,000. On February 4, 2021, Jarrow again made false statements to an approved lender for "another sham business," as described by DOJ, to obtain a $20,833 PPP loan. Though Trump's national approval rating has recently wavered, due in large part to economic turbulence, his stance on the transgender issue remains for the American public one of his most well-received initiatives. An Associated Press-NORC poll of 1,175 adults conducted between May 1 and 5 found that 52 percent of Americans approve of Trump's handling of transgender issues—higher than his job approval rating, which the poll measured at 41 percent. What People Are Saying Alithia Zamantakis, a research assistant professor in the Institute for Sexual and Gender Minority Health and Wellbeing at Northwestern University, told Newsweek that the DOJ correspondence is part of a broader theme within the current administration. "It's clear that the Trump administration continues to use anti-trans bigotry as a means to divide everyday people and to justify the administration's actions," Zamantakis said. "The administration has presented a caricature of trans people as fraudulent, a waste of government funds, and a harm to our society. Their reference to Brandon as a 'woman' only furthers that characterization." Defense Secretary Pete Hegseth, reacting to a post about transgender treatments provided by the Pentagon, said on X, formerly Twitter, last month: "If this is true—we will find any way possible to stop it. Taxpayers should NEVER pay for this lunacy. As we stated—before a rogue judge blocked it—'service members with gender dysphoria are disqualified from military service.' Zero readiness reasons for trans troops." Maine's Democratic Governor Janet Mills said in a statement last month: "As I have said previously, this is not just about who can compete on the athletic field, this is about whether a president can force compliance with his will, without regard for the rule of law that governs our nation. I believe he cannot." J. Michael Bailey, a professor of psychology at Northwestern University, said in an opinion article for Newsweek: "Since his inauguration, President Donald Trump has signed a series of executive orders that respect biological reality in areas from medicine to sports to intimate spaces, and protect the right to speak about the harms of gender ideology. These orders, including the most recent one, issued February 5, honor honest scientific inquiry and reverse the trend of activists distorting the scientific picture." What Happens Next Jarrow's sentencing date is scheduled for August 13. Jarrow faces up to five years in prison for false statement counts and up to 10 years for the theft of government funds. All counts carry a penalty of up to $250,000 in fines, up to three years of supervised release and a $100 mandatory special assessment fee, per the DOJ.
Epoch Times
10-05-2025
- Business
- Epoch Times
With 58 Counties in California, Where Does Yours Place Financially?
Commentary The final two counties in California to release their annual comprehensive financial reports for the year ending June 30, 2022, were Mariposa (Dec. 27, 2024) and While 49 of the 58 counties stayed roughly in place, nine of them The year ending in 2022 was a positive one for most municipalities, thanks to the Coronavirus Aid, Relief and Economic Security (CARES) Act and other federal relief funding, like the American Rescue Plan Act (ARPA). In the top 10 of the counties, San Benito County had revenues in excess of expenditures of $39.9 million, explaining its $33.8 million reduction in its unrestricted net deficit. This allowed the county to move up four positions into 8th place. Related Stories 5/6/2025 2/26/2025 Orange County's revenues in excess of expenditures was $1.3 billion, which reduced its unrestricted net deficit by $1.33 billion, and made it the biggest mover, jumping eight places up to 16th place. Not bad, as its bankruptcy filing back in 1994, due to the loss of $1.67 billion in its investment pool, had placed this county in 46th place back in 2010. Modifying its retiree medical plan (other post-employment benefit) and employee pension plan contributions had a lot to do with its upward climb. Many counties improved their unrestricted net positions and still dropped in the rankings, thanks to other counties making better improvements. But a few counties had setbacks. Although Kings County had revenues in excess of expenditures of $27.8 million, but had a prior period adjustment that reduced it by $14.9 million. It also restricted $3.7 million in funds and spent $18 million on capital assets, resulting in an increase in its unrestricted net deficit of $8.7 million. It dropped six places. The revenues in excess of expenditures for The critical goal is to improve the unrestricted net position. The other is to complete the annual audit, which is the official score sheet, within six months. Of California's 58 counties, 14 accomplished this admirable goal. The next deadline is March 31, and 25 counties were able to meet it. This left 19 counties, or one-third, delinquent. And the county officer responsible for issuing the report holds the title of 'auditor-controller.' Oh, well. Eleven counties were able to complete the audit work by the end of 2023. I bring this up because a county's financial management team can't make improvements in a timely manner from the recommendations that the auditors customarily provide to correct improper internal controls. It also makes budgeting a difficult chore if the county's supervisors don't have a balance sheet to plan from. If you live in these more remote counties, or if you're visiting them on vacation, as I have and so should you, then swing by the following halls of administration that also released their annual comprehensive financial reports for 2022 in 2024: Modoc (Jan. 9), Alpine (Jan. 19), Kings (April 5), Plumas (April 9), Imperial (July 19), and Humboldt (July 22). You're going to love the trip, and they're going to get the hint that some of us care about timely reporting. Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
Yahoo
10-04-2025
- Business
- Yahoo
Wisconsin family office agrees to near $11 million settlement for PPP loan violations
WISCONSIN (WFRV) – A group of affiliated companies controlled by a family office in Wisconsin has agreed to pay nearly $11 million to settle allegations of violating the False Claims Act by submitting false certifications for Paycheck Protection Program (PPP) loans. On April 2, Barrington Venture Holding Company LLC, The Club at Strawberry Creek LLC, The Garlands of Barrington LLC, Nuestro Queso LLC, SSCO LLC, and Tire Profiles LLC agreed to settle the claims. Grassroots group in New London rallies in support of immigrant workers The settlement resolves allegations that four of these companies — The Club at Strawberry Creek LLC, The Garlands of Barrington LLC, Nuestro Queso LLC, and Tire Profiles LLC — falsely certified their eligibility for PPP loans. These companies collectively received six PPP loans totaling more than $5 million in principal, despite having more than 500 employees, which made them ineligible for the program. The PPP loan program, created in March 2020 through the Coronavirus Aid, Relief and Economic Security (CARES) Act, provided financial assistance to small businesses impacted by the COVID-19 pandemic. The loans could be forgiven if used on payroll and other eligible expenses, with the government repaying the borrower. Borrowers were required to certify their eligibility when applying for a loan and forgiveness, including an accurate employee count. Businesses with fewer than 500 employees were eligible for the loans, but businesses under common ownership or control had to aggregate employee counts. The U.S. government alleges that the family office companies knew they were ineligible for the PPP loans but applied anyway, taking steps to conceal their ineligibility. 'This settlement reflects the continuing commitment of the Department of Justice and the Small Business Administration to hold accountable businesses that abused this emergency program,' said Acting U.S. Attorney Frohling. Over 2,100 work zone crashes in Wisconsin last year, State Patrol issues safety reminder for 2025 SBA General Counsel Wendell Davis emphasized the collaborative efforts by federal agencies to recover the funds and impose penalties in such cases. The claims settled are allegations only, with no determination of liability made. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
