The Daily Money: Billions in pandemic unemployment claims flagged as potentially fraudulent

A government report verified at least $4.3 billion in fraudulent unemployment claims during the pandemic. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Wednesday, January 25 Happy hump day! It's Amanda Pérez Pintado with today's headlines.  At least $4.3 billion have been paid out in fraudulent unemployment claims during the COVID-19 pandemic. But the total could be 10 or more times higher, according to a U.S. Government Accountability Office report released Monday. The report said at least $45 billion in unemployment insurance payments had "some indication of potential fraud." The agency, however, said the number of cases marked as potentially fraudulent could be off because "some of the flagged transactions may not be fraudulent and not all fraudulent transactions may be flagged." IRS may owe you from your 2020 taxes Americans who received unemployment benefits in 2020 could exclude up to $10,200 from their taxable income if they earned less than $150,000 per year under the American Rescue Plan Act. Since the change came after tax season started and many Americans had already filed their taxes, the IRS said it would auto-correct returns. The IRS said earlier this month it finished its corrections and people it may have missed would need to file an amended return.  Here's what you need to do to find out if you're owed money. 📰 More stories you shouldn't miss 📰 Recall alert: Volvo recalls certain S60, V60 and other 2023 year models due to an issue with the brakes. What is a recession? A guide to the economic concept and what it means  Minimum wage: Walmart will raise minimum hourly wage to at least $14 for store employees beginning next month. Can your phone do that? Find hidden apps and hacks on your smartphone. 🍔 Today's Menu 🍔 Meet the "Most Oreo Oreos." The cookie company introduced the newest Oreo flavor stuffed with extra filling with ground Oreos mixed in. About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Volvo recalls certain 2023 year vehicles due to brakes The National Highway Traffic Safety Administration says a diagnostic error may cause issues with Volvo's antilock brake system and traction control. Report: Billions in US pandemic claims flagged as potentially... Can my phone do that? Find hidden apps and hacks on your smartphone. Justice Department sues Google over advertising market dominance Recessions explained: What's a recession? How long do recessions last? Walmart increases minimum wage for hourly employees to $14 If IRS owes you money from 2020, you need to file an amended return. Oreos' newest filling is ... more Oreo: New cookie debuts this month Tax season is here: When to file, forms you need and what to know New Labor Department database breaks down child care costs by county   Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102