The rumors kicked off after a tweet from CBS' "What's Trending" Twitter feed, which read: "Reports say that Steve Jobs has passed away. Stay tuned for more updates." Since then, the tweet was removed entirely from the What's Trending Twitter feed, with a tweet that followed stating that the information was unconfirmed.
You would think that update would put an end to all of the fuss, but it didn't. Since then, no one has come out and made a statement to confirm the validity of the claims one way or another, which has prompted some to believe the rumor could still be true.
Some are even pointing at CBS' language in their update, using the word "unconfirmed" over "false", to suggest there could be some credibility to the rumors - all of this sounds like grasping at straws to me, and that's putting it lightly.
Granted, nothing is confirmed one way or another at this point, but there is no reason to believe, at least as of right now, that Steve Jobs has actually passed away - so for now, you can rest easy. Should this rumor turn out to be true, however unlikely that may be, we'll be sure to let you know.
Updated Edit (Oct 5. 2011):Steve Jobs has passed away CLICK HERE for the full story.
Edited for clarity