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    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    FG Orders Immediate Withdrawal of Passports from Nigerians Who Renounce Citizenship

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    Nigerian Breweries Confirms Fire at Aba Warehouse

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    Livingtrust Mortgage Bank Denies Nairaland Money-Laundering Allegations

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    Gunmen abduct unidentified man in Anambra state

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    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

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    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Dangote Sugar to Raise ₦500bn via Rights Issue to Cut Debt, Fund Expansion

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    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

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    CBN Bars Large Loan Defaulters from New Credit and Guarantees

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    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

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    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    FG Orders Immediate Withdrawal of Passports from Nigerians Who Renounce Citizenship

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    Livingtrust Mortgage Bank Denies Nairaland Money-Laundering Allegations

    Livingtrust Mortgage Bank Denies Nairaland Money-Laundering Allegations

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    Beta Glass Plc Announces ₦7.20 Final Dividend on Strong 2025 Financial Results

    Beta Glass Plc Announces ₦7.20 Final Dividend on Strong 2025 Financial Results

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    Legend Internet Plc to Merge with Spectranet Limited

    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

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    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

    Oando JV Supplies Gas to Power Bayelsa’s New 60MW IPP

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    Dangote Sugar to Raise ₦500bn via Rights Issue to Cut Debt, Fund Expansion

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    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

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    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Deep Capital Approves Capital Increase, Restructuring Plnn

    Deep Capital Approves Capital Increase, Restructuring Plnn

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN Limits New Mobile Banking Transfers to ₦20,000 in First 24 Hours

    CBN Bars Large Loan Defaulters from New Credit and Guarantees

    CBN Bars Large Loan Defaulters from New Credit and Guarantees

    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

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    FG Caps Jet A1 Prices as Airlines Threaten Shutdown Fuel Relief for Airlines

    FG Caps Jet A1 Prices as Airlines Threaten Shutdown Fuel Relief for Airlines

    Transcorp Power Reports ₦94.59bn Revenue and ₦29.70bn Profit in Q1 2026

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    Dangote Sugar seeks approval for N485.9bn rights issue on NGX

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    US and Iran Agree on a fragile Two-Week Ceasefire as Strait of Hormuz Reopens Conditionally

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    Acceptance for Champion Breweries Plc Take-Over Offer closes soon

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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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