Things To Do In SW Florida

By HALELUYA HADERO (AP Business Writer)

TikTok disclosed a letter Thursday that accused the Biden administration of engaging in “political demagoguery” during high-stakes negotiations between the government and the company as it sought to relieve concerns about its presence in the U.S.

The letter — sent to David Newman, a top official in the Justice Department’s national security division, before President Biden signed the potential TikTok ban into law — was submitted in federal court along with a legal brief supporting the company’s lawsuit against measure. TikTok’s Beijing-based parent company ByteDance is also a plaintiff in the lawsuit, which is expected to be one of the biggest legal battles in tech and internet history.

The internal documents provide details about negotiations between TikTok and the Committee on Foreign Investment in the United States, a secretive inter-agency panel that investigates corporate deals over national security concerns, between January 2021 and August 2022. read more

By MAE ANDERSON (AP Business Writer)

NEW YORK (AP) — The Internal Revenue Service said Thursday a review of 1 million claims for the Employee Retention Credit representing $86 billion shows the “vast majority” are at risk of being improper.

The ERC was designed to help businesses retain employees during pandemic-era shutdowns, but it quickly became a magnet for fraud. Its complex eligibility rules allowed scammers to target small businesses, offering help applying for the ERC for a fee — even if they didn’t qualify.

About 10% to 20% of the 1 million claims show “clear signs of being erroneous” and tens of thousands of those will be denied in coming weeks, the IRS said. Another 60% to 70% show an “unacceptable risk” of being improper and will be further evaluated.

“The completion of this review provided the IRS with new insight into risky Employee Retention Credit activity and confirmed widespread concerns about a large number of improper claims,” said IRS Commissioner Danny Werfel. “We will now use this information to deny billions of dollars in clearly improper claims and begin additional work to issue payments to help taxpayers without any red flags on their claims.” read more

Earlier this year, winemaker Patrick Cappiello of Monte Rio Cellars, a small producer of wines from Lodi and Mendocino in California, made a dramatic plea in an Instagram post to his 37,000 followers.

“American wineries are struggling right now,” he said. “We have a huge amount of inventory and a huge decrease in sales… Drink our wines, buy our wines,” Cappiello implored, challenging his followers to “buy only American wine for two months.” Because otherwise, many American wineries you love will go out of business, he warned.

Cappiello’s appeal sparked widespread discussion in an industry facing a glut of global production coupled with sharp downward trends in consumption. Globally, wine consumption has decreased by 13% in 2023 from peak figures in 2007. And in the U.S., where the number of wineries has increased 4% annually since 2010 to over 11,000 wineries in 2022, wine sales have faltered as increasingly health-conscious consumers are drinking less alcohol, or seeking alternatives to wine like spirits, cannabis or premade canned cocktails. read more

Construction

Michael Shamblen was hired as director of Human Resources at T&T Construction Management Group Inc., Casselberry.

Robin Hetzel has joined Stevens Construction Inc. as a project manager in the firm’s Orlando office.

Hospitality

Fred Sawyers was appointed managing director at Evermore Orlando Resort.

Law

Justin Robinson has joined Dean Mead’s Orlando office as an attorney in the corporate and tax department.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.

By Nicole Dow | NerdWallet

Personal loans and personal lines of credit are both helpful tools to cover large expenses. These financing options have similar benefits, like no collateral requirements and low rates for well-qualified borrowers, but deciding which is right for you comes down to how you prefer to receive and repay the funds.

Learn the similarities and differences between personal loans and personal lines of credit to determine which is right for your plans.

Personal loans and lines of credit: How they’re similar

Personal loans and personal lines of credit are typically unsecured, meaning you don’t have to pledge an asset as collateral in order to borrow. It also means the lender will rely mostly on your credit, income and existing debts to determine whether you qualify.

When you apply for either financing option, the lender will pull your credit report to examine your creditworthiness and how you handle existing debts. Applicants with good credit and low debt-to-income ratios have the best chances of qualifying and getting the lowest rates. read more