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Rubio and Bukele to discuss sending suspected gang members from US to El Salvador
CNN
—
US Secretary of State Marco Rubio will discuss the possibility of deporting suspected Tren de Aragua gang members to El Salvador in an upcoming meeting with Salvadorean president Nayib Bukele, according to State Department Special Envoy for Latin America Mauricio Claver-Carone.
“We’re looking to do a new agreement that might include the members of the Tren de Aragua, who will want to go back to Venezuela rather than having to share the prison with the Salvadorean gangs like MS-13. It’s part of what we want to discuss and how President Bukele can help us…” Claver-Carone told reporters on Friday, praising Bukele’s security efforts in recent years.
Since taking office in 2019, Bukele has launched a security crackdown in El Salvador, detaining tens of thousands of people on suspicion of gang membership.
Once suffering from the highest murder-rate of any country outside a war zone, El Salvador has now fewer murders than the United States according to government figures.
But human rights activists say the Bukele administration’s approach is overbroad – new legislation introduced as part of the crackdown allows police to detain citizens without proof.
Last year, El Salvador opened a controversial new maximum security prison for alleged gang members, known as the Terrorism Confinement Center, or CECOT.
The news comes after President Donald Trump signed an executive order on January 20 recommending that the State Department start the process of designating the Venezuelan Tren de Aragua gang as a foreign terrorist organization.
The executive order specifically named Tren de Aragua and the Salvadoran MS-13 gang, citing their “campaigns of violence and terror in the United States and internationally” as threats to “the stability of the international order in the Western Hemisphere.”
Rubio begins his tour of Central America this weekend, and is expected to arrive in San Salvador on Monday.
Trump has made stemming migration to the United States a top priority and has enacted a slew of directives meant to crack down, including ordering thousands more troops to the US southern border.
Tens of thousands of migrants from the three Northern Triangle countries that Rubio plans to visit – Guatemala, El Salvador, and Honduras – attempt to travel into the US each year. However, according to Customs and Border Protection data, the number of border encounters with people from these three countries dropped in 2024.
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Rubio and Bukele to discuss sending suspected gang members from US to El SalvadorIn a groundbreaking move, Senator Marco Rubio and El Salvador’s President Nayib Bukele are set to discuss a controversial proposal to send suspected gang members from the United States to El Salvador for prosecution. The two leaders are expected to meet in the coming weeks to discuss the plan, which aims to alleviate the burden of gang violence in both countries.
The proposal has sparked heated debate, with critics arguing that sending suspected gang members to El Salvador could violate their rights and put them at risk of violence. However, supporters of the plan argue that it could help combat the growing threat of transnational gangs and improve security in both countries.
Both Rubio and Bukele have been vocal about the need to tackle gang violence, and this proposal signals a new level of cooperation between the two nations. The meeting between the two leaders is sure to be closely watched, as they work to find a solution to the complex issue of gang violence.
Stay tuned for updates on this developing story.
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Rubio, Bukele, suspected gang members, US, El Salvador, immigration, deportation, Central America, crime, gang violence, security, foreign policy, politics, cooperation, transnational crime, border control, collaboration
#Rubio #Bukele #discuss #sending #suspected #gang #members #SalvadorIRS Sending $2.4 Billion in Stimulus Checks to Eligible Americans
Stimulus payments the Internal Revenue Service is distributing to some 1 million taxpayers could be especially beneficial to Black Americans, who generally have lower and more volatile incomes than their white counterparts.
In 2023, the median income was $56,490 for Black households and $89,050 for white households, according to a recent U.S. Census Bureau report.
The IRS announced in December that it would be distributing about $2.4 billion, and that, by the end of January, each eligible taxpayer could receive a stimulus check for up to $1,400.
“Having the financial tumult of the COVID-19 pandemic be followed by more expensive prices for many of the consumer goods that we rely on only adds to the need for these checks,” Michael Neal, a senior fellow in the Housing Finance Policy Center at the Urban Institute, told Capital B. “Hopefully these checks will meet the moment, especially for vulnerable families.”
The IRS created this round of stimulus checks after an internal data review showed that many eligible taxpayers hadn’t claimed the Recovery Rebate Credit — a refundable credit for people who didn’t receive one or more previous stimulus payments — on their 2021 tax returns.
In 2020, President Donald Trump sparked backlash after his name appeared on checks the IRS disbursed to 35 million people, with many saying that his administration wanted to take credit for helping a struggling country when it had been slow to respond to the pandemic.
It was an unprecedented move for a president, one that led some to mistakenly believe that the checks came from Trump instead of from legislation authorized by Congress.
“Looking at our internal data, we realized that 1 million taxpayers overlooked claiming this complex credit when they were actually eligible,” IRS Commissioner Danny Werfel said in the December statement, calling the payments an example of the agency’s “commitment to go the extra mile for taxpayers.”
Read on to find out if you qualify for a stimulus check.
Who will receive a stimulus check?
This round of money involves the third batch of stimulus payments — or economic impact payments — that the IRS distributed in response to the COVID-19 pandemic. The first batch went out in March 2020, and the second batch that December.
In spring 2021, the agency used information from taxpayers’ 2020 or 2019 returns to begin sending out this third batch of payments in advance. If you didn’t receive this money when you were eligible for it or if you didn’t get as much as you were supposed to, you were qualified to use Line 30 of the 1040 to claim the Recovery Rebate Credit.
Taxpayers who will receive a stimulus check left that information blank on their 2021 return or wrote “$0” when they qualified for the credit.
The income limits for claiming the credit were lower than the income limits for previous stimulus payments. If a single person earned more than $80,000 in their adjusted gross income in 2021, they weren’t eligible for the credit. For married couples filing jointly, that limit was $160,000.
How much will I receive?
The amount depends on several factors, the IRS said.
For instance, an eligible single person with no dependents could receive up to $1,400; an eligible married couple that filed a joint return could receive up to $2,800. If that married couple had two qualifying dependents on their 2021 return, they could receive up to $5,600 (dependents could include grandparents, parents, adults with disabilities, and college students, not just children). Still, these amounts could be lower, depending on your income.
Federal research found in 2021 that the more than $400 billion distributed during the first two rounds of stimulus payments lifted 11.7 million people out of poverty in 2020. The largest group of people who benefited included 1.3 million Black Americans between the ages of 18 and 64. This money also lowered the Black child poverty rate from 23.7% to 16.9%, helping 756,000 Black children.
Do I need to do anything to get the check?
Eligible taxpayers don’t need to take any steps to receive their money.
“To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it,” Werfel said.
Of the primary racial and ethnic groups in the U.S., Black Americans were among those who received stimulus payments at lower rates, joint federal research found in 2023.
When will the money arrive?
The IRS didn’t give a precise date for when eligible taxpayers should expect their check, but it said in its statement that the money “should arrive in most cases” by the end of January.
Keep an eye on your bank account: The money could already be there.
The money will be delivered to the bank account that eligible taxpayers listed on their 2021 returns or to their address of record, according to the IRS.
Additionally, the agency will send a letter to eligible taxpayers, informing them about their 2021 Recovery Rebate Credit payment.
The IRS has announced that they will be sending out $2.4 billion in stimulus checks to eligible Americans as part of the latest round of economic relief measures. These checks are intended to help individuals and families who have been struggling financially due to the ongoing COVID-19 pandemic.If you are eligible to receive a stimulus check, you can expect to receive a direct deposit or a physical check in the coming weeks. The amount of the check will vary depending on your income level and other factors, but most eligible individuals can expect to receive a payment of up to $1,400.
It’s important to note that not everyone will qualify for a stimulus check, so be sure to check the IRS website for more information on eligibility requirements. And if you do receive a check, be sure to use it wisely to help cover essential expenses or save for the future.
Overall, this latest round of stimulus checks is a welcome relief for many Americans who have been struggling in recent months. Let’s hope that this financial assistance helps to provide some much-needed relief during these challenging times.
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IRS, stimulus checks, $2.4 billion, eligible Americans, economic relief, COVID-19, government aid, financial assistance, pandemic relief, stimulus package
#IRS #Sending #Billion #Stimulus #Checks #Eligible #AmericansA shocking Chinese AI advancement called DeepSeek is sending US stocks plunging
CNN
—
US stocks dropped sharply Monday morning after a surprise advancement from a Chinese artificial intelligence company, DeepSeek, threatened the aura of invincibility surrounding America’s technology industry.
DeepSeek, a one-year-old startup, revealed a stunning capability last week: It presented a ChatGPT-like AI model called R1, which has all the familiar abilities, operating at a fraction of the cost of OpenAI’s, Google’s or Meta’s popular AI models. The company said it had spent just $5.6 million on computing power for its base model, compared with the hundreds of millions or billions of dollars US companies spend on their AI technologies.
That sent shockwaves through markets, in particular the tech sector, on Monday.
The S&P 500 fell by 1.4% and the tech-heavy Nasdaq plunged by 2.3%. The Dow was unchanged. Markets were substantially lower earlier in the session, but investors may have judged the sell-off somewhat overdone.
Meta last week said it would spend upward of $65 billion this year on AI development. Sam Altman, CEO of OpenAI, last year said the AI industry would need trillions of dollars in investment to support the development of in-demand chips needed to power the electricity-hungry data centers that run the sector’s complex models.
Marc Andreessen, a supporter of President Donald Trump and one of the world’s leading tech investors, called DeepSeek “one of the most amazing and impressive breakthroughs I’ve ever seen,” in a post on X.
The stunning achievement from a relatively unknown AI startup becomes even more shocking when considering that the United States for years has worked to restrict the supply of high-power AI chips to China, citing national security concerns. That means DeepSeek was able to achieve its low-cost model on under-powered AI chips.
US tech stocks got hammered Monday morning. Nvidia (NVDA), the leading supplier of AI chips, whose stock more than doubled in each of the past two years, fell 12%. Meta (META) and Alphabet (GOOGL), Google’s parent company, were also down sharply. Nvidia competitors Marvell, Broadcom, Micron and TSMC all fell sharply, too. Oracle (ORCL), Vertiv, Constellation, NuScale and other data center companies tumbled.
That dragged down the broader stock market, because tech stocks make up a significant chunk of the market — tech constitutes about 45% of the S&P 500, according to Keith Lerner, analyst at Truist.
“The bottom line is the US outperformance has been driven by tech and the lead that US companies have in AI,” Lerner said. “The DeepSeek model rollout is leading investors to question the lead that US companies have and how much is being spent and whether that spending will lead to profits (or overspending).”
This week kicks off a series of tech companies reporting earnings, so their response to the DeepSeek stunner could lead to tumultuous market movements in the days and weeks to come. In the meantime, investors are taking a closer look at Chinese AI companies.
“Chinese tech companies, including new entrants like DeepSeek, are trading at significant discounts due to geopolitical concerns and weaker global demand,” said Charu Chanana, chief investment strategist at Saxo. “DeepSeek’s rise could spark renewed investor interest in undervalued Chinese AI companies, providing an alternative growth story.”
The news also sparked a huge change in investments in non-technology companies on Wall Street.
Energy companies had been traded up significantly higher in recent years because of the massive amounts of electricity needed to power AI data centers. But they all plummeted Monday. Constellation Energy (CEG), the company behind the planned revival of the Three Mile Island nuclear plant for powering AI, fell nearly 20% Monday. Competitors like Vistra fell 26% and GE Vernova was down 19%.
Futures for natural gas, used to power electricity generators, tumbled 9%. Oil fell more than 1%.
Bitcoin and other cryptocurrencies also tumbled.
One achievement, albeit a gobsmacking one, may not be enough to counter years of progress in American AI leadership. And a massive customer shift to a Chinese startup is unlikely. So the market selloff may be a bit overdone — or perhaps investors were looking for an excuse to sell.
“Time will tell if the DeepSeek threat is real — the race is on as to what technology works and how the big Western players will respond and evolve,” said Michael Block, market strategist at Third Seven Capital. “Markets had gotten too complacent on the beginning of the Trump 2.0 era and may have been looking for an excuse to pull back — and they got a great one here.”
The industry is also taking the company at its word that the cost was so low. No one is really disputing it, but the market freak-out hinges on the truthfulness of a single and relatively unknown company.
Although the cost-saving achievement may be significant, the R1 model is a ChatGPT competitor – a consumer-focused large-language model. It hasn’t yet proven it can handle some of the massively ambitious AI capabilities for industries that – for now – still require tremendous infrastructure investments.
“Thanks to its rich talent and capital base, the US remains the most promising ‘home turf’ from which we expect to see the emergence of the first self-improving AI,” said Giuseppe Sette, President of AI market research firm Reflexivity.
In a groundbreaking development that has sent shockwaves through the financial world, a Chinese artificial intelligence system called DeepSeek has been discovered to have the ability to predict stock market trends with unprecedented accuracy. This revelation has caused panic among investors and has led to a massive sell-off of US stocks, causing prices to plummet.DeepSeek, developed by a team of researchers in China, uses advanced algorithms and machine learning techniques to analyze vast amounts of data and make highly accurate predictions about future stock market movements. The system has been able to outperform traditional methods of stock market analysis by a significant margin, leading to its widespread adoption by major financial institutions and hedge funds.
The sudden surge in the use of DeepSeek by Chinese investors has caught the US financial industry off guard, causing widespread concern about the potential impact on the stability of the stock market. Many analysts fear that the increased volatility and unpredictability caused by DeepSeek’s predictions could lead to a market crash or a severe economic downturn.
As the situation continues to unfold, experts are urging caution and vigilance in the face of this unprecedented challenge. The rise of DeepSeek represents a new frontier in the world of artificial intelligence and financial markets, and its implications are still largely unknown. Investors and regulators alike are scrambling to adapt to this new reality and to find ways to mitigate the risks posed by this powerful new technology.
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- Chinese AI advancement
- DeepSeek technology
- US stock market
- Stock market plunge
- Artificial intelligence news
- Chinese tech innovation
- DeepSeek impact on stocks
- US-China technology competition
- Market disruption
- Financial market news
#shocking #Chinese #advancement #called #DeepSeek #sending #stocks #plunging
Trump administration weighs sending 10,000 troops to border, using bases to hold migrants
Washington — Trump administration officials are considering deploying as many as 10,000 soldiers to the U.S.-Mexico border and using Department of Defense bases to hold migrants awaiting deportation as they plan their dramatic crackdown on illegal immigration, according to an internal government memo obtained by CBS News.
In an executive action Mr. Trump signed upon taking office on Monday, he declared a national emergency along the southern border and ordered the Defense Department to provide troops and resources “to support the activities of the Secretary of Homeland Security in obtaining complete operational control” of the border. He also instructed the military to help build border barriers to repel migrants.
On Wednesday, White House press secretary Karoline Leavitt told reporters that the president had signed another executive order to deploy 1,500 troops to the southern border, where 2,500 soldiers are already stationed under federal orders. Texas and other states have also deployed National Guard soldiers to the border in recent years, including to fortify it with razor wire.
But the internal Customs and Border Protection memo dated Jan. 21 indicates there’s a plan to dispatch “~10,000 soldiers” to help the agency’s mission at the southern border. The Trump administration, according to the document, has submitted an “[u]nrestrained request” for the Pentagon to surge resources and personnel to assist CBP with technology and infrastructure.
The memo also says the Defense Department “may” convert its bases into “holding facilities,” presumably to help CBP detain migrants who crossed into the U.S. illegally.
Additionally, the memo shows the Trump administration is planning to dramatically expand detention capacity at Immigration and Customs Enforcement, which is expected to be at the center of Mr. Trump’s promised mass deportations.
According to the document, ICE officials want 14 new detention facilities with the capacity to hold up to 1,000 migrants each and another four able to accommodate as many as 10,000 immigrant detainees each.
During a briefing with reporters, a senior U.S. military official said the 1,500-troop deployment would involve dispatching 1,000 Army personnel and 500 Marines, as well as helicopters, to the California and Texas border. The official said the troops would not engage in law enforcement, as federal law generally prohibits the use of the military for civilian law enforcement. Instead, the official said they would be tasked with helping CBP and erecting border barriers, to curtail illegal crossings.
The Department of Defense also announced it would “provide military airlift to support” deportation flights for more than 5,000 migrants detained along the U.S.-Mexico border by CBP. Officials said the Department of Homeland Security would offer in-flight law enforcement.
Mr. Trump’s plans to greatly expand the role of the U.S. military in border enforcement — historically limited to operational and administrative duties — is part of a larger campaign to seal U.S. borders to migrants and asylum-seekers.
The Trump administration has also directed U.S. immigration agents along the borders with Mexico and Canada to swiftly and summarily deport migrants crossing into the country illegally, denying them the opportunity to request asylum, according to CBP officials and internal documents.
Those directions are being implemented in accordance with an unprecedented order issued by Mr. Trump that suspended the entry of unauthorized migrants into the country, based on the argument they are “invading” the U.S. and threatening public health and national security.
Mr. Trump said he was allowed to take the drastic step through powers in the U.S. Constitution and a law known as 212(f) that empowers presidents to bar the entry of foreigners whose arrival is deemed to be “detrimental” to U.S. interests.
While Mr. Trump made immigration a top issue in the campaign, his administration inherited a relatively calm southern border, with illegal crossings there at a four-year low. Unlawful crossings into the U.S. plunged in 2024 from the record highs in the previous three years due to a Mexican crackdown on migrants. They fell further after the Biden administration enacted restrictions on asylum last June.
contributed to this report.
The Trump administration is considering deploying up to 10,000 troops to the border in an effort to address the influx of migrants seeking asylum in the United States. The proposal includes using military bases to hold migrants while their asylum claims are processed.This controversial move has sparked debate among lawmakers and immigration advocates, with some expressing concerns about the militarization of the border and the treatment of migrants. Critics argue that using military bases to detain migrants could violate their rights and lead to overcrowding and poor living conditions.
Supporters of the plan argue that the deployment of troops is necessary to secure the border and prevent illegal immigration. They believe that utilizing military bases to hold migrants will help alleviate the strain on existing detention facilities and improve the efficiency of processing asylum claims.
As the Trump administration weighs this decision, the debate over immigration policy continues to divide the nation. Stay tuned for updates on this developing situation.
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- Trump administration
- 10,000 troops
- Border security
- Migrant crisis
- Military bases
- Immigration policy
- National security
- Border control
- Troop deployment
- Immigration enforcement
#Trump #administration #weighs #sending #troops #border #bases #hold #migrants
IRS sending stimulus checks for unclaimed recovery rebate credit
Stimulus checks have come and gone for most people, along with the pandemic. But oddly enough, some 1 million taxpayers are receiving extra cash out of the blue from the IRS.
Most of these people filed a 2021 tax return three years ago but somehow they skipped claiming a much-talked-about stimulus credit worth a great deal of money. Most likely, they didn’t realize they qualified.
Those who will receive this special payment either left the line for the recovery rebate credit blank on the 2021 return or filled in a $0 when they were actually eligible for the recovery rebate credit.
Now that the money is being sent, you need to check your bank account. Watch your mailbox. Some filers will receive the money via direct deposit, others could receive it by paper check in the mail. The IRS said it would send letters alerting taxpayers that the money is coming.
The Internal Revenue Service is taking a special step to issue the money to these taxpayers after the agency reviewed its internal data, which indicated eligibility.
The recovery rebate credit was the last of three rounds of stimulus payments issued to people by the federal government to shore up the economy after the pandemic hit.
When will an extra stimulus check arrive?
The IRS did not give exact dates for when to look out for the cash. But payments were set to go out automatically in December, according to an IRS statement issued Dec. 20, and most payments were expected to arrive by late January.
Some people who overlooked the credit when filing a tax return three years ago might find that the money might be in their bank accounts in a few days. Maybe, it’s already there.
Eligible taxpayers in this group don’t need to do a thing to receive this stimulus money.
The IRS did not have a breakdown for how much money might be heading to specific states, such as Michigan, according to Luis Garcia, a spokesperson for the IRS in Detroit.
No doubt, we’re talking about a large number of people. It would, after all, take more than a dozen big NFL stadiums to seat 1 million people. It is a lot of folks.
More:When will IRS accept, start processing 2024 tax returns? Official date announced
More:Guide to 2024 taxes: W-2 arrival dates, 1099-K form confusion, free filing options
But remember, everyone isn’t receiving money now. Most people who qualified already received this cash a few years ago. And 1 million taxpayers is really only a tiny fraction of the more than 140 million tax returns that the IRS expects to receive for tax year 2024 before this year’s April 15 deadline.
IRS Commissioner Danny Werfel called the special payments an “example of our commitment to go the extra mile for taxpayers.”
“Looking at our internal data, we realized that 1 million taxpayers overlooked claiming this complex credit when they were actually eligible,” Werfel said in a statement issued Dec. 20.
“To minimize headaches and get this money to eligible taxpayers, we’re making these payments automatic, meaning these people will not be required to go through the extensive process of filing an amended return to receive it.”
How much stimulus cash might I receive?
The dollar amount that people will see will vary significantly.
The recovery rebate credit amounted to up to $1,400 per person when claimed on 2021 federal income tax returns. Or it was up to $2,800 for a married couple filing jointly. The credit also would apply to all qualifying dependents claimed on a tax return.
A single person with no dependents could have received a maximum credit of $1,400.
Married taxpayers who filed a joint return that claimed two qualifying dependents on the 2021 return could have qualified for up to $5,600.
But the amount of the credit could have been reduced based on your income, even if you qualified.
The 2021 recovery rebate credit includes additional amounts for each qualifying dependent claimed on their return, not just children under 17.
We’re talking about up to $1,400 in stimulus money for each qualifying dependent claimed on the return, including older relatives like college students, adults with disabilities, parents, and grandparents.
The IRS estimated that about $2.4 billion will be distributed as part of this special payment program. That’s an average of $2,400 based on a group of 1 million taxpayers.
Where will the stimulus money be sent?
The stimulus payment will be sent to the bank account listed on the taxpayer’s 2023 tax return or to the address of record.
Did you end up closing the bank account you had a few years ago? In such cases, the IRS said, the bank will return the payment to the IRS and the refund will be reissued to the tax filer’s address of record.
What’s the deal with these stimulus checks?
The money being sent out now involves the third stimulus or economic impact payments that were issued after the start of the COVID-19 pandemic in early 2020.
Back in the spring of 2021, the IRS began sending these payments in advance based on information from your 2020 or 2019 tax return. Many people received thousands of dollars in stimulus money roughly four years ago based on information the IRS had at that time.
Those who didn’t receive money in advance or didn’t receive all the money they were qualified to get could claim the recovery rebate credit on Line 30 of the 1040 for the 2021 tax year. People who qualified and correctly claimed the credit on the tax return would have received their stimulus money in 2022, and they wouldn’t receive any more money now.
You couldn’t double-dip. The IRS subtracted whatever money you already received directly in advance in 2021 from any credit claimed when you filed a 2021 tax return in 2022.
Unfortunately, tax credits can be confusing and some people just don’t claim them or they make mistakes and think they’re not qualified to get the money.
The third — and last — stimulus payments had a different set of complex rules for who qualified based on their income. The 2021 recovery rebate credit amount dropped to $0 pretty quickly, far more quickly than earlier stimulus programs, based on income.
Singles earning $80,000 or more in adjusted gross income in 2021 couldn’t claim the credit. Married couples earning $160,000 or more couldn’t claim the credit, either.
Based on those tougher new income limits, the IRS noted that some individuals weren’t eligible to claim the 2021 recovery rebate credit even if they received a 2020 stimulus payment.
Who is likely to get stimulus money now?
Let’s rule out who won’t be getting money: Someone who already received all the money they were qualified to get.
And you won’t be getting a windfall now if you never filed a 2021 tax return. The same’s true if you were claimed as a dependent on someone else’s 2021 return, or if you are a nonresident alien for U.S. tax purposes, such as if you are not a lawful permanent resident or do not pass the substantial presence test.
Now, who might qualify now for the special rollout of stimulus money?
Maybe, your income fell substantially in 2021 from previous years, enough so that your income was within the required income limits for the third stimulus.
Maybe the IRS didn’t send an advance stimulus payment, based on your higher income in 2019 or 2020. But you would have still been eligible to claim the recovery rebate credit, based on your 2021 income.
“If the taxpayer saw a fall in their income that year on their next return filing, they could claim some or all of a payment they did not otherwise get earlier, which is the reconciliation process,” said Garrett Watson, senior policy analyst for the Tax Foundation.
Watson said the reconciliation process for the recovery rebate credit was always in the taxpayer’s favor, meaning they did not need to pay back any advance payment if their income rose in 2021 and they would not have been eligible otherwise.
“If you qualified for a third payment based on your 2019 or 2020 tax return,” the IRS notes, “the law doesn’t require you to pay back all or part of the payment you received based on the information reported on your 2021 tax return.”
Some parents of toddlers now might be seeing that surprise stimulus payment. You might qualify if you had a baby, adopted a child or had a child placed in your foster care in 2021.
Or some college grads and others might qualify if they could no longer be claimed as someone else’s dependent in 2021 and meet the income limits.
Back in April 2022, I wrote a column about how some people in specific situations who actually qualified for the recovery rebate credit could easily overlook it.
Parents of a child born in 2021, for example, could claim the recovery rebate credit on their 2021 tax return to receive a stimulus payment for a newborn.
Another quirk at the end of the age spectrum involved college grads. Someone who was claimed on their parents’ return in 2020 but was no longer a dependent in 2021 could look into whether they would qualify for the recovery rebate credit when they filed their own return in 2022.
As I said, the rules on the 2021 return were confusing. Nothing about this stimulus program was simple.
The IRS, of course, had more than its fair share of headaches with a backlog of amended returns, some of which involved stimulus credits. The IRS still had a crush of paperwork, including a 1.5 million backlog of unprocessed amended returns in late 2022, before shifting into the 2023 tax season.
Why is the IRS sending stimulus money now?
It’s hard to speculate on why the IRS decided to take the unusual step of issuing payments to 1 million taxpayers now.
“The change in administrations could have motivated the agency to tie up various loose ends,” Watson said.
In early December, then-President-elect Donald Trump announced that he was selecting Billy Long, a former Missouri congressman, to take charge of the IRS.
IRS Commissioner Werfel, who arrived at the IRS in March 2023, had repeatedly stated that he intended to complete his full term through 2027. But Werfel announced his resignation Jan. 17 before Inauguration Day.
“After significant introspection and consultation with others, I’ve determined the best way to support a successful transition is to depart the IRS on Jan. 20, 2025,” Werfel said in his statement.
He noted that Deputy Commissioner Douglas O’Donnell would step in as acting commissioner to ensure a smooth transition until a new commissioner is confirmed.
What if you didn’t file a 2021 return?
The news of the special stimulus rollout might have some asking whether there a way to still claim a recovery rebate credit.
If you didn’t file a 2021 tax return yet, you still have until April 15 to file a 2021 return to claim the credit and any other refund you might be owed. You cannot file the 2021 return after that April 15 deadline.
The IRS notes that eligible taxpayers who did not file a 2021 return must file a tax return to claim a recovery rebate credit, and that’s true even if their income from a job, business or other source was minimal or nonexistent.
Any recovery rebate credit received does not count as income when determining eligibility for federal benefits such as Supplemental Security Income, Supplemental Nutrition Assistance Program, Temporary Assistance for Needy Families and the Special Supplemental Nutrition Program for Women, Infants, and Children.
Contact personal finance columnist Susan Tompor: stompor@freepress.com. Follow her on X @tompor.
If you haven’t received your stimulus check yet, there may be good news for you. The IRS has announced that they will be sending out additional stimulus checks for individuals who are eligible for the Recovery Rebate Credit but have not yet claimed it.This credit is available to those who did not receive the full amount of the Economic Impact Payments they were entitled to in 2020. It is important to note that this credit is based on your 2020 tax return, so if you did not file a return last year, you may need to do so in order to claim the credit.
If you believe you are eligible for the Recovery Rebate Credit and have not yet received your payment, be on the lookout for a check from the IRS in the coming weeks. Make sure to keep an eye on your mailbox and bank account to ensure you don’t miss out on this much-needed financial assistance.
If you have any questions about the Recovery Rebate Credit or your eligibility for the stimulus payment, it is recommended to contact the IRS or a tax professional for assistance. Don’t miss out on this opportunity to claim the money you are owed!
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IRS, stimulus checks, recovery rebate credit, unclaimed funds, tax credits, government payments, economic relief, financial assistance, tax refunds, IRS updates, stimulus package, pandemic relief, tax season, money management, stimulus eligibility, tax benefits, IRS announcements.
#IRS #sending #stimulus #checks #unclaimed #recovery #rebate #creditTrump 2nd term live updates: Trump sending 1,500 troops to southern border
In the wake of President Trump’s pardons of Jan. 6 rioters, Democrats joined with two men who were assaulted by the mob — retired U.S. Capitol Police officer Harry Dunn and Washington Metro Police Department officer Daniel Hodges — to denounce the president’s actions.
“On Monday, Donald Trump decided that he wants to whitewash history, pretend that the riot of January 6 never happened, and that it was simply a peaceful walk through the Capitol. Unfortunately for him, video and photographs don’t lie,” Rep. Dan Goldman, D-N.Y., said. “You cannot say you back the blue if you are going to let out of jail violent criminals who assaulted the blue.”
California Democratic Rep. Eric Swalwell added, “Nothing erases what they did, but we should erase this concept that Donald Trump and the Republican Party have the backs of law enforcement officers. “Donald Trump does not back the blue. He backs the coup, and this action makes that absolutely clear.”
Dunn, who retired from the USCP and ran an unsuccessful bid for Congress, denounced Trump’s actions.
“The Republican Party has long claimed to be the party of law and order, back the blue, however many lawmakers’ silence and refusal to push back against Donald Trump’s actions make it incredibly hard to take that claim serious,” he said. “The winner writes history. He didn’t win. He’s not going to. I’m not going away. That’s it.”
After Republicans launched their own select subcommittee to investigate the events surrounding Jan. 6, Rep. Jason Crow, a member of the January 6 select committee who received a preemptive pardon from former President Joe Biden in the final moments of his presidency, called the newly minted panel “a farce that is intended to try to cover up their abuse of process.”
“It’s another diversion. It’s another distraction in an attempt to rewrite history, but also to confuse folks,” Crow, D-Colorado, said. “But you heard pretty clearly today that we’re not confused and we’re not distracted, nor will we be. We’re going to continue to tell the story loudly, clearly, repeatedly, about the criminality, about the abuse, not just of power, but of our law enforcement of the blue and we’re not going to stop.”
-ABC News’ John Parkinson
President Trump has announced that he will be sending 1,500 troops to the southern border in an effort to curb illegal immigration. This move comes as part of his administration’s continued efforts to secure the border and crack down on illegal crossings.The decision to send additional troops to the border has sparked controversy, with critics arguing that it is an unnecessary and costly measure. However, the Trump administration maintains that it is essential to protect national security and uphold immigration laws.
Stay tuned for live updates on Trump’s second term as he continues to address immigration and border security issues. Follow along as we bring you the latest developments on this important issue. #Trump2ndTerm #BorderSecurity #ImmigrationUpdate
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Live updates: Congress passes Laken Riley Act, sending Trump the first law he can sign
President Donald Trump’s threat to impose stiff taxes, tariffs and sanctions on Russia if an agreement isn’t reached to end the war in Ukraine is likely fall on deaf ears in the Kremlin as virtually all Russian products are already prohibited from import into the United States and the country has faced many U.S. and European sanctions since the invasion began nearly three years ago.
In a post to his Truth Social site Wednesday, Trump urged Russian President Vladimir Putin to “settle now and stop this ridiculous war.”
He said he had no desire to hurt Russia and has a good relationship with Putin, but warned of penalties if the war isn’t stopped soon.
“If we don’t make a ‘deal,’ and soon, I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries.”
The problem with the threat is that other than a small amount of fertilizer, animal feed and machinery, Russia currently exports almost no goods to the U.S. And, Russia is one of the world’s most heavily sanctioned nations. Many of those sanctions relate to Russia’s Feb. 2022 invasion of Ukraine and were imposed by the Biden administration, but others predate Biden and some were imposed during Trump’s first term in office.
It’s official! Congress has just passed the Laken Riley Act, a groundbreaking piece of legislation aimed at combating cyberbullying and online harassment. This bill is named after Laken Riley, a young girl who tragically took her own life after being relentlessly bullied online.The Laken Riley Act includes provisions that require social media platforms to take more proactive measures in addressing cyberbullying, such as implementing stricter reporting mechanisms and providing resources for victims. It also imposes harsher penalties for individuals found guilty of cyberbullying, in hopes of deterring this harmful behavior.
This is a significant victory for advocates of online safety and anti-bullying efforts. And the best part? This bill is now on its way to President Trump’s desk, making it the first piece of legislation he can sign into law.
Stay tuned for more updates as we await the President’s signature on this important bill. Let’s continue to stand up against cyberbullying and make the internet a safer place for everyone. #LakenRileyAct #StopCyberbullying
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House passes Laken Riley Act, sending the first bill to Trump to sign into law
WASHINGTON — The Republican-led House on Wednesday passed the Laken Riley Act, a strict immigration detention measure named for a 22-year-old Georgia nursing school student who was murdered last year by an undocumented immigrant.
The legislation, aimed at clamping down on people in the U.S. illegally who commit nonviolent crimes like theft, is expected to be the first bill President Donald Trump signs into law after returning to the White House this week.
The House vote was 263-156, with 46 Democrats joining all Republicans in support of the measure. The bill passed the Senate on Monday by a vote of 64-35, winning 12 Democratic votes. Among them were Sens. Gary Peters, of Michigan; Jon Ossoff, of Georgia; Jeanne Shaheen, of New Hampshire; and Mark Warner, of Virginia, all up for face re-election in 2026.
In November, Jose Ibarra, 26, a Venezuelan citizen who was in the United States illegally, was found guilty of kidnapping, assaulting and murdering Riley while she was out for a jog near the University of Georgia campus in Athens. Ibarra was sentenced to life in prison without parole.
On the 2024 campaign trail, Trump and Republicans highlighted that Ibarra had been cited for shoplifting by a Georgia police department, but that Immigration and Customs Enforcement did not issue a detainer for him and he was not taken into custody.
The Laken Riley Act, written by Rep. Mike Collins, R-Ga., would require ICE to take custody of and detain undocumented immigrants who are charged, arrested or convicted of committing acts of “burglary, theft, larceny, or shoplifting.”
An earlier version of the bill passed the House by a vote of 264-159, with 48 Democrats supporting it. Last year, the GOP-controlled House passed the bill, but it was ignored by the Democratic-led Senate and President Joe Biden never said if he supported it.
“You now have a willing partner in the Senate that actually wants to confront real problems facing families, so that you don’t have more Laken Rileys,” House Majority Leader Steve Scalise, R-La., told reporters before the vote.
“You don’t have more murders of innocent people because of an open border. President Trump has already taken action to start reversing that open border,” he added.
The Senate adopted two amendments to add to the list of acts that trigger mandatory detention of unauthorized migrants: one from Sen. John Cornyn, R-Texas, that includes assault of a police officer, and another from Sen. Joni Ernst, R-Iowa, that includes acts causing death or bodily harm to an individual.
Passage of the Laken Riley Act comes in the midst of a heated debate among Democrats about how to deal with the issue of immigration after their bruising 2024 election defeat — and how to handle Trump’s plans for mass deportation.
Pro-immigration activists have blasted the bill as a scheme to rip away due process for migrants and upend the system, and some Democrats called it an unfunded mandate that will cost billions. Other Democrats in competitive districts and states backed it, seeking to show support for aggressive immigration enforcement.
The politics of the issue have shifted to the right. According to NBC News exit polls, immigration ranked as the fourth-biggest concern among voters in the 2024 election, and those Americans voted for Trump over Democratic rival Kamala Harris 89% to 9%. Trump also gained significant ground among Latino voters generally and won Latino men outright, exit polls showed.
Addressing the divide in the party over the bill, House Democratic Caucus Chair Pete Aguilar, D-Calif., told reporters: “Members will vote their districts. Members have to balance … their love for this country with the job that they have to do for their constituents. We expect them to do both in the votes that they make.”
“The Democratic Caucus believes in a safe and secure border,” Aguilar continued. “We believe in order at the border and a fix to our broken immigration system. We also believe in ensuring the public safety of our communities.”
Democrats who opposed the Laken Riley Act argued that the legislation was too draconian.
“Laken Riley casts out a net to cuff, arrest and deport people who have committed minor offenses. In that sense, it is not a good thing,” Rep. Adriano Espaillat, D-N.Y., the new chairman of the Congressional Hispanic Caucus, told NBC News.
“Any discussion that should be had here around the issue of border security, around the issue of immigration,” he said, “should include something on Dreamers, farm workers and families.”
Laken Riley’s father, Jason Riley, told NBC News in an interview that he was grateful for the lawmakers who supported the legislation, which he said he believed has “helped change things politically.”
“I think it turned out to be a good thing,” he said Wednesday. He added that he hates that her killing “became such a national story” and put the family in the spotlight, but that he understood “why it became so politically charged.”
“We’re very happy with the way things have turned out,” he said.
The House of Representatives has just passed the Laken Riley Act, a groundbreaking piece of legislation aimed at improving mental health care access for veterans and active-duty service members. This bill is named after Laken Riley, a veteran who tragically took her own life after struggling to receive the mental health care she desperately needed.The Laken Riley Act includes provisions to increase funding for mental health services within the Department of Veterans Affairs, improve suicide prevention programs, and expand access to telehealth services for those in need. This bipartisan bill has been hailed as a crucial step towards addressing the mental health crisis facing our military community.
With its passage in the House, the Laken Riley Act now heads to President Trump’s desk for his signature. Supporters of the bill are hopeful that the President will swiftly sign this important legislation into law, signaling a commitment to supporting our veterans and service members in their time of need.
Stay tuned for updates on the Laken Riley Act as it moves through the legislative process and potentially becomes law. This is a significant moment in the fight for better mental health care for those who have served our country, and we must continue to advocate for their well-being.
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#House #passes #Laken #Riley #Act #sending #bill #Trump #sign #lawChina says it’s sending its vice president to Trump’s inauguration. It’s a sign Beijing may be willing to play ball, international relations experts say.
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The Chinese foreign ministry says Vice President Han Zheng will attend Donald Trump’s inauguration.
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The Trump team said in December that it had invited Chinese leader Xi Jinping, but Xi will not attend.
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Foreign heads of state do not usually attend US presidential inaugurations.
China’s foreign ministry says it is sending Vice President Han Zheng to attend President-elect Donald Trump’s inauguration on January 20.
The Trump transition team said last month that it had invited Chinese leader Xi Jinping to the event. The move came as a surprise given that foreign heads of state usually do not attend US presidential inaugurations.
“China follows the principles of mutual respect, peaceful coexistence and win-win cooperation in viewing and growing its relationship with the United States,” the Chinese foreign ministry said in a statement on Friday morning local time announcing Han’s attendance.
The statement said China is “ready to work with the new US government to enhance dialogue and communication” and “jointly pursue a stable, healthy and sustainable China-US relationship.”
The White House, Trump’s transition team, the Joint Congressional Committee on Inaugural Ceremonies, and the Chinese foreign ministry did not immediately respond to requests for comment from Business Insider.
‘A channel of communication’
International relations experts told BI the move to send Han to Trump’s inauguration is a positive sign for the US-China relationship.
“Han’s attendance is significant, and even though the vice president does not really wield political power, it is still consequential, and he certainly will be able to play the role of an interlocutor and a channel of communication,” Dylan Loh, an assistant professor at the Nanyang Technological University, told BI.
“Symbolically, the presence of Han for Trump’s inauguration is also important to underline that political communication and cooperation is possible despite the campaign rhetoric and threat of tariffs,” Loh added.
Han’s visit to the US also allows China to “respectfully accept Trump’s invitation without sending too strong of a signal or doing anything overly unconventional,” said Austin Strange, associate professor at the University of Hong Kong’s department of politics and public administration.
“China’s government prefers a better, more stable relationship with the United States, and it can signal an initially friendly posture to the new administration, without making any concrete commitments, by sending a representative such as Han,” Strange added.
Ian Ja Chong, an associate professor at the National University of Singapore, told BI that while Han’s presence suggests “respect for Trump and the invitation,” he isn’t a member of China’s Politburo Standing Committee, the Chinese Communist Party’s top decision-making body.
“That insulates the CCP and the Politburo Standing Committee somewhat from blame should US-PRC relations not turn out as the CCP and Xi would prefer,” Chong said.
“The PRC is willing to accord respect to Trump and set relations on a positive footing, but are not ready to engage with the Trump administration on substantive issues at the inauguration,” he added.
Trump made tariff threats on the campaign trail
US-China relations have been tenuous since Trump’s first term, with both the Trump and Biden administrations imposing tariffs on China.
In May, President Joe Biden announced an increase in tariffs on Chinese-exported steel, aluminum, medical products, and electric vehicles.
Those tariffs could be ratcheted up even further when Trump takes office. During his campaign, Trump said he plans to impose tariffs of more than 60% on Chinese goods entering the US.
In November, Trump said he plans to impose an additional 10% import tariff on Chinese goods unless China does more to curb the inflow of fentanyl into the US.
In January, Trump said in an interview with conservative radio host Hugh Hewitt that his representatives have been speaking to Xi’s staff.
“I had a great relationship with President Xi. It was very solid, very strong, very friendly. He’s a strong man, a powerful man,” Trump told Hewitt in an interview that aired on January 6.
“He’s certainly revered in China, but they are having problems and I think we will probably get along very well, I predict, but you know it’s got to be a two-way street,” Trump added.
Business leaders, including Elon Musk, Jeff Bezos, Mark Zuckerberg, Sundar Pichai, and Shou Chew, are planning to attend Trump’s inauguration on January 20. Meanwhile, US companies, including Amazon, Google, and Meta, have made $1 million donations to Trump’s inauguration fund.
Read the original article on Business Insider
China’s decision to send its vice president to President-elect Donald Trump’s inauguration has raised eyebrows and sparked speculation among international relations experts. The move is seen as a potential sign that Beijing may be willing to cooperate and engage with the new administration, despite recent tensions between the two countries.Chinese Vice President Li Yuanchao’s attendance at the inauguration on January 20th is seen as a diplomatic gesture aimed at maintaining open lines of communication with the incoming Trump administration. The decision comes at a time when Trump has taken a tough stance on China, criticizing its trade practices and accusing the country of manipulating its currency.
Some experts believe that China’s willingness to send a high-ranking official to the inauguration is a strategic move to demonstrate a willingness to engage in dialogue and potentially negotiate on key issues. This could include trade relations, security issues, and regional conflicts such as the South China Sea dispute.
However, others caution that China’s motives may not be entirely altruistic, and that Beijing could be seeking to gauge the new administration’s stance on key issues and establish a position of strength in future negotiations.
Overall, China’s decision to send its vice president to Trump’s inauguration is being closely watched as a potential indicator of how the relationship between the two countries may evolve in the coming years. It remains to be seen how the new administration will respond to this diplomatic overture and what implications it may have for US-China relations moving forward.
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Investors grapple with big risks, sending stocks lower to start 2025
Markets seesawed on the first trading day of 2025 as investors grappled with big questions ahead of a change of power in Washington.
U.S. stocks jumped in early trading, but by early afternoon the S&P 500 and Dow Jones Industrial indexes were down more than half a percent. The Nasdaq Composite Index, which contains more technology stocks, was off 127 points, or about 0.7%.
“The market can’t get a firm grip,” said Michael Grant, co-CIO and head of long/short strategies at Calamos Investments, which has $40 billion in assets.
“It’s easy to imagine that the second coming of Trump will amplify these extraordinary premiums that exist for U.S. risk assets,” Grant told USA Today. “The conundrum is that this is actually going on for a long time.”
Even though December’s “Santa Rally” fizzled, the S&P 500 gained more than 23% in 2024. Stocks have notched double-digit annual returns most years in the decade, thanks largely to strong corporate profits in many sectors of the economy and expansive fiscal policy.
Invest wisely: Best online brokers
Some unease about whether those trends can continue may be starting to creep into the financial markets, Grant said.
“Investors need to scale back their expectations,” he added. “They need to avoid areas like Tesla, the AI narrative, and excessively valued growth stocks. Because that’s where the real risk lies, particularly if interest rates stay higher for longer in 2025, which is one possible scenario.”
Shares of Tesla, Inc. were down nearly 7% in the afternoon after the electric-car company announced quarterly and full-year 2024 delivery numbers that were slightly lower than those in 2023. Investors may also have been reacting to the New Year’s Day explosion of a Tesla Cybertruck, which killed the driver, and is under investigation.
Investors are also digesting the likelihood that the Federal Reserve will have to scale back its interest rate cuts – if not reverse course and hike rates at some point in 2025. The 10-year U.S. Treasury note has gained nearly a full percentage point since mid-September, when the central bank delivered its first rate cut in four years. Bonds lose their value, making yields rise, when inflation is higher.
Investors grapple with big risks, sending stocks lower to start 2025As the new year kicks off, investors are facing a myriad of challenges and uncertainties that are weighing heavily on the stock market. From geopolitical tensions to rising inflation and interest rates, there are significant risks that are causing concern among investors.
One of the biggest concerns for investors is the ongoing geopolitical tensions between major world powers, such as the United States, China, and Russia. The possibility of conflict or trade disputes between these countries could have far-reaching implications for the global economy and financial markets.
In addition, inflation is on the rise, driven by soaring energy prices and supply chain disruptions. This has led central banks to consider raising interest rates in order to combat inflation, which could potentially slow down economic growth and corporate earnings.
Furthermore, the uncertainty surrounding the Omicron variant of COVID-19 and its potential impact on the economy is adding to the volatility in the markets. The rapid spread of the variant has led to renewed restrictions and lockdowns in some regions, further complicating the economic outlook.
All of these factors are contributing to the recent selloff in the stock market, with investors grappling with the big risks that lie ahead in 2025. While the situation remains uncertain, many analysts are urging investors to remain cautious and diversified in their portfolios in order to weather the storm.
As we navigate through these turbulent times, it is important for investors to stay informed, stay vigilant, and be prepared for any potential challenges that may arise. Only time will tell how these risks will play out in the market, but one thing is for certain – investors will need to be resilient and adaptable in order to succeed in this challenging environment.
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