Money Issues Links
Defendant Jack Owuor in ‘Grandparent Scam’ Network Sentenced for RICO Conspiracy Targeting Elderly Americans
"The Department of Justice’s Consumer Protection Branch will continue to pursue and prosecute groups that target elderly and vulnerable Americans through extortion, fraud, and impersonating their loved ones.""The department’s extensive and broad-based efforts to combat elder fraud seek to halt the widespread losses seniors suffer from fraud schemes. The best method for prevention, however, is by sharing information about the various types of elder fraud schemes with relatives, friends, neighbors and other seniors who can use that information to protect themselves." more »
FDA Finalizes Historic Rule Enabling Access to Over-the-Counter Hearing Aids for Millions of Americans More Affordable Hearing Aids Could Be in Stores as Soon as Mid-October
As of August 17, 2022, the U.S. Food and Drug Administration issued a final rule to improve access to hearing aids which may in turn lower costs for millions of Americans. This action establishes a new category of over-the-counter (OTC) hearing aids, enabling consumers with perceived mild to moderate hearing impairment to purchase hearing aids directly from stores or online retailers without the need for a medical exam, prescription or a fitting adjustment by an audiologist. The rule is expected to lower the cost of hearings aids, furthering the Biden-Harris Administration’s goal of expanding access to high-quality health care and lowering health care costs for the American public. It is designed to assure the safety and effectiveness of OTC hearing aids, while fostering innovation and competition in the hearing aid technology marketplace. more »
IRS: Taxpayers Now Have More Options to Correct, Amend Returns Electronically; Determing the Value of Donated Property
"The Internal Revenue Service announced today that more forms can now be amended electronically. These include people filing corrections to the Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, Self-Employment Tax Return – Puerto Rico." "Taxpayers can also amend their return electronically if there is change to their filing status or to add a dependent who was previously claimed on another return." more »
GAO, Unemployment Insurance: Transformation Needed to Address Program Design, Infrastructure, and Integrity Risks
"The Secretary of Labor should develop and execute a transformation plan that meets GAO's high risk criteria for transformation; the plan should outline coordinated and sustained actions to address issues related to providing effective service and mitigating financial risk, including ways to demonstrate improvements. Planned actions may include addressing audit recommendations, and determining whether legislative changes are needed, as appropriate. Planned actions may also include achieving quantifiable results in reducing improper payment rates, including those related to fraud; improving efficiency in claims processing and restoring pre-pandemic payment timeliness levels; better reaching current worker populations; and enhancing equity in benefit distribution." (Recommendation 1, Publicly Released: Jun 07, 2022.) more »