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    Nnamdi Kanu files court motion seeking an order to “stay proceedings” in trial before Justice Omotosho

    Nnamdi Kanu files court motion seeking an order to “stay proceedings” in trial before Justice Omotosho

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    Nnamdi Kanu files court motion seeking an order to “stay proceedings” in trial before Justice Omotosho

    Nnamdi Kanu files court motion seeking an order to “stay proceedings” in trial before Justice Omotosho

    FIRS, JTB begin ‘full scale enforcement’ on tax defaulters

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    Mazi Nnamdi Kanu’s trial – Court fixes date for judgement

    Thomas Wyatt Nigeria PLC Delays Filing of 2025 Financial Statements

    Thomas Wyatt Nigeria PLC Delays Filing of 2025 Financial Statements

    Nissan Motors sells Yokohama Headquarters for $630 million

    Nissan Motors sells Yokohama Headquarters for $630 million

    FIRS, JTB begin ‘full scale enforcement’ on tax defaulters

    FULL LIST: FG releases 50 tax exemptions, reliefs for businesses and individuals from 2026

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    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nigeria Imposes 10% Tax on Short-Term Investment Interest

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

    Nestlé Cuts 16,000 Jobs in a Major Restructuring; Stock Rises Nearly 8%

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    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

    Agro-Industrial giant Presco Plc reports N10.12bn profit in H1 2021

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    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

    Fidson Healthcare Announces N21 Billion Rights Issue to Boost Capital Base

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$1.4 billion Stimulus Checks sent to dead people in the U.S

As of May 31 2020, the Internal Revenue Service (IRS) and the Treasury has disbursed 160.4 million payments worth $269.3 billion to taxpayers

Thursday, 25 June 2020, 8:38 pm
in News, World
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$1.4 billion Stimulus Checks sent to dead people in the U.S
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Over 1 million stimulus checks worth, $1.4 billion has been sent to deceased people in the United States, according to data released on Thursday by the Government Accountability Office (GAO).

As of May 31 2020, the Internal Revenue Service (IRS) and the Treasury has disbursed 160.4 million payments worth $269.3 billion to taxpayers.

According to the report by GAO, as of April 30, almost 1.1 million payments totaling nearly $1.4 billion had gone to the deceased.

In response to the national public health and economic threats caused by COVID-19 in the U.S, four relief laws were enacted as of June 2020, including the CARES Act, in March 2020.

These laws have appropriated $2.6 trillion across the government in six areas—Paycheck Protection Program (PPP); Economic Stabilization and Assistance to Distressed Sectors; unemployment insurance; economic impact payments; Public Health and Social Services Emergency Fund; and Coronavirus Relief Fund.

The CARES Act includes a provision for GAO to report bimonthly on its ongoing monitoring and oversight efforts related to the COVID-19 pandemic.

Read also; Manufacturing and Non-manufacturing sectors PMI contract in June – CBN

This finding is part of the GAO initial report, which examines key actions the federal government has taken to address the COVID-19 pandemic and evolving lessons learned relevant to the nation’s response to pandemics, among other things.

According to GAO, the reason behind the payment to the deceased is because the arm of the treasury department that issued the stimulus payments checks does not have access to data of the decedents, although the IRS has access to the Social Security Administration’s death records.

Thus, GAO recommended that Congress should give the Treasury Department access to the deceased data.

It also recommended that Internal Revenue Service (IRS) should consider cost-effective options for notifying ineligible recipients how to return payments. IRS agreed with the recommendation.

Have you read; U.S Federal Debt Tops $26 Trillion; Over 100% of GDP

The IRS had in May in its new guidance said that a “payment made to someone who died before receipt of the payment should be returned” and it also provided instructions on how to send back checks that were received in error.

Written by;

Ifunanya Ikueze

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