Latest news with #IRS
Yahoo
8 hours ago
- Business
- Yahoo
Are We Likely To Get Stimulus Checks Under Trump? What Experts Say
If you've been on social media this year, you've probably seen posts about a $5,000 DOGE stimulus check — called the DOGE Dividend — possibly coming your way. But where would the money come from, and how likely are the American people to get these checks? Read Next: Find Out: The answer to the first question is simple. The $5,000 would theoretically come from the federal savings — which, at the time the DOGE checks were first mentioned, were anticipated to be about $2 trillion — gained from the Department of Government Efficiency (DOGE). Approximately a fifth of that would go toward the 79 million Americans who pay federal income tax. As for whether stimulus checks are likely to be sent out during Trump's second term, here's what the experts say. Between 2020 and 2021, the IRS sent out a total of three stimulus checks, or Economic Impact Payments. The deadline for most taxpayers claiming the third and final payment was April 15, 2025. So, what are the chances of receiving a fourth stimulus check — or the DOGE Dividend? According to experts, it's pretty unlikely. 'There is almost no realistic scenario where Americans will get a stimulus check under Trump's current term,' said Nicholas Creel, an associate professor of business law at Georgia College and State University. 'The majorities the GOP has in the legislature are paper thin, and a significant contingent of the party is far too concerned with the deficit to allow for that sort of massive spending program any time soon.' Other experts are inclined to agree. George Carrillo, co-founder and chief executive officer at the Hispanic Construction Council and former director of social determinants of health for the state of Oregon, noted that federal stimulus checks are unlikely in the near future due to a number of factors, including inflation, budget constraints, no legislative support, no concrete action and a current lack of bipartisan support. Be Aware: Stimulus checks are used as a way to jumpstart the economy — more money in taxpayers' hands potentially means more spending. But generally speaking, these checks are a short-term solution rather than a long-term one. 'I'd equate stimulus checks to the sugar rush you get when eating a lot of candy. Yes, eating candy boosts your energy, but it is short lived and leaves you worse off in the long term,' said Creel. 'You'd be far better off in the long term eating a proper diet and exercising, but of course that's never as fun!' Carrillo added that floating around the idea of a fourth stimulus check could also be a political move on the part of President Donald Trump. 'It could be a strategic move to win favorability and maintain control of the House and Senate, as financial relief tends to resonate with voters,' he said. Just because there might not be another round of stimulus checks — at least not in the foreseeable future — doesn't mean there won't be other financial relief for those who need it. According to Carrillo, 'Some states are stepping up with their own relief programs, so there may be local options to explore.' For example, New York intends to issue a one-time 'inflation refund' check this October. Eligible taxpayers could receive between $150 and $400. New Mexico is also rolling out its own relief program. State residents who qualify could receive $500 to $1,000. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses The 10 Most Reliable SUVs of 2025 This article originally appeared on Are We Likely To Get Stimulus Checks Under Trump? What Experts Say Sign in to access your portfolio
Indian Express
14 hours ago
- Politics
- Indian Express
Haryana to conduct state-wide mock drill today, 15-min blackout from 8 pm
Haryana will now conduct the state-wide mock drill – civil defence exercise — under Operation Shield on Saturday across all 22 districts to enhance state's emergency preparedness and response capabilities. Scheduled to begin at 5 pm, the drill is being organised under the guidance of the Ministry of Home Affairs (MHA) to simulate critical incidents such as air raids, drone attacks, and other wartime scenarios in the light of current national security concerns. Earlier, this mock drill was scheduled for May 29 but was postponed as per MHA instructions. A controlled blackout of 15 minutes will be observed from 8 pm near vital installations, with exception of essential emergency services such as hospitals, fire stations, and police stations. Interacting with media persons here Friday, Additional Chief Secretary (Home) Sumita Misra said, 'The exercise aims to test existing emergency mechanisms, improve coordination between the civil administration, defence forces, and local communities and to identify areas that need to be strengthened, thus ensuring swift and effective response during any crisis.' Misra said, 'Currently there are around 32,000 civil defence volunteers across Haryana who will contribute in this exercise. All Deputy Commissioners have been directed to call out Civil Defence Volunteers, NSS, NCC, Nehru Yuva Kendra Sangathan (NYKS), Home Gaurds, etc. of their respective districts in order to brief them regarding their deployment, duties and exercises to be undertaken.' The key components include drills responding to aerial threats such as air raids and swarms of unmanned aerial vehicles (drones), activation of air raid sirens, and testing of control room communication hotlines established with the Indian Air Force. The exercise aligns with the Incident Response System (IRS), which Haryana officially notified on January 28, 2025, under the Disaster Management Act, 2005, providing a structured framework for effective emergency response. All Deputy Commissioners, who are also Chairpersons of District Disaster Management Authorities, along with Commissioners and Superintendents of Police, have been directed to ensure meticulous planning and execution of the exercise in their jurisdictions. 'They have been instructed to submit a detailed Action Taken Reports to the Commandant General, Home Guards, and Director, Civil Defence, Haryana, which will be compiled for state-level review and forwarded to the MHA. The above mock exercises are scheduled for May 31 between 5 pm and 9 pm and should not be the cause of alarm for the citizen,' Misra said.
The Hindu
14 hours ago
- Politics
- The Hindu
Haryana to conduct statewide civil defence exercise 'Operation Shield' on May 31
The Haryana government will conduct a major statewide Civil Defence Exercise, "Operation Shield", on May 31, across all 22 districts to enhance the state's emergency preparedness and response capabilities. Scheduled to begin at 5 p.m., this comprehensive drill is being organised under the guidance of the Union Ministry of Home Affairs, to simulate critical incidents such as air raids, drone attacks, and other wartime scenarios in the light of current national security concerns, an official statement said here on Friday. The mock exercises are scheduled for May 31 between 5 p.m. to 9 p.m. and should not be the cause of alarm for the citizens, officials said. Earlier, this drill was scheduled for May 29 but was postponed as per the instructions of the Ministry of Home Affairs, it said. Giving further details, Additional Chief Secretary, Haryana's Home Department, Sumita Misra on Friday stated that the exercise aims to test existing emergency mechanisms, improve coordination between the civil administration, defence forces, and local communities and to identify areas that need to be strengthened, thus ensuring swift and effective response during any crisis. She said that currently there are around 32,000 Civil Defence Volunteers across state who will also contribute in this exercise. All Deputy Commissioners have been directed to call out Civil Defence Volunteers, NSS, NCC, Nehru Yuva Kendra Sangathan (NYKS), Home Guards, of their respective districts in order to brief them regarding their deployment, duties and exercises to be undertaken. She further stated that, key components include drills responding to aerial threats such as air raids and swarms of unmanned aerial vehicles (drones), activation of air raid sirens, and testing of control room communication hotlines established with the Indian Air Force. Additionally, a controlled blackout of 15 minutes will be observed from 8 p.m. to 8.15 p.m. near vital installations, with exception of essential emergency services such as hospitals, fire stations, and police stations. Mr. Misra highlighted that the exercise also aligns with the Incident Response System (IRS), which Haryana officially notified on January 28, 2025, under the Disaster Management Act, 2005, providing a structured framework for effective emergency response. She directed all Deputy Commissioners, who are also Chairpersons of District Disaster Management Authorities, along with Commissioners and Superintendents of Police, to ensure meticulous planning and execution of the exercise in their jurisdictions. They have been instructed to submit detailed Action Taken Reports to the Commandant General, Home Guards, and Director, Civil Defence, Haryana, which will be compiled for state-level review and forwarded to the Ministry of Home Affairs.
Hindustan Times
15 hours ago
- Hindustan Times
Punjab: CA held taking ₹10L bribe on behalf of IRS officer: VB
The Punjab Vigilance Bureau (VB) on Friday said it arrested a charted accountant (CA) red-handed for reportedly demanding and accepting ₹10 lakh as bribe on the behalf of an Indian Revenue Service (IRS) officer posted as assistant commissioner, Central Goods and Services Tax (CGST), Jalandhar. The accused has been identified as Gursewak Singh, a resident of Jalandhar. An official spokesperson of the state VB said the arrests were made after a firm owner complained that the CA demanded ₹30 lakh from him on behalf of the CGST assistant commissioner as bribe for benefiting the company in connection with an inquiry being conducted under the CGST Act. The spokesperson further said that after a preliminary verification of the complaint, a VB flying squad laid a trap during which the CA was arrested red-handed while he was receiving the first installment of ₹10 lakh from the complainant in presence of two official witnesses. 'On the basis of the disclosure of the CA, the role of the IRS officer is under investigation,' a spokesperson said. He informed that an FIR has been registered against the CA under Sections 7 and 7A of the Prevention of Corruption Act and under Section 61(2) of the BNS at the VB police station, flying squad-1, Punjab, in Mohali. The accused would be produced in a court on Saturday and further investigation was under progress, he added.
Fox News
16 hours ago
- Business
- Fox News
DOGE slashes over $5 million by cutting thousands of unused software licenses
The Department of Government Efficiency (DOGE) saved over $5 million a year after discovering several agencies paid for far more software than they were actually using. For example, the IRS was paying for 3,000 licenses for software but only used 25. Once DOGE discovered the waste, it cut the remaining 99% of the licenses. "Agencies often have more software licenses than employees, and the licenses are often idle (i.e. paid for, but not installed on any computer)," DOGE wrote in a post on X. "These audits have been continuously run since first posted in February." The Department of Labor slashed 68% of unused "project planning" software licenses, DOGE noted, and the Securities and Exchange Commission cut 78% of the remote desktop software programs it was paying for after finding the commission was only using 22% of the programs. According to DOGE, the three changes saved over $5 million a year. DOGE raised a red flag in February that agencies were paying for more software licenses than employees when it shared a post about the U.S. General Services Administration (GSA). With 13,000 employees, GSA was paying for 37,000 licenses for WinZip, a program used to archive and compress files. The agency also pays for 19,000 training software subscriptions, 7,500 project management software seats for a division with only 5,500 employees and three different ticketing systems. The most recent post comes as billionaire Elon Musk steps down as the face of DOGE. While DOGE was tasked with cutting $2 trillion from the budget, its efforts led to roughly $175 billion in savings due to asset sales, contract cancellations, fraud payment cuts and other ways to eliminate costs, according to an update on DOGE's website. The savings translate to about $1,087 in per taxpayer, the website notes. Musk told reporters in the Oval Office Friday the savings will continue to build, and he is confident total cuts will amount to $1 trillion in the coming years. "The DOGE influence will only grow stronger," Musk said. "I liken it to a sort of person of Buddhism. It's like a way of life, so it is permeating throughout the government. And I'm confident that, over time, we'll see $1 trillion of savings, and a reduction in $1 trillion of waste, fraud reduction."
