The IRS is preparing to test a first-of-its-kind online tool that would allow taxpayers to file federal returns to the agency for free, with a pilot version of the program coming as early as next year, according to the service.
Why it matters: A direct e-file system could reshape how millions of Americans do their taxes, experts say, while potentially disrupting the multi-billion-dollar tax preparation industry, which has resisted such a system for decades.
Hollywood's writers strike cast a pall over this year's upfronts — the annual media pitch-fest to court advertisers — but it didn't stop the show.
Why it matters: Ad-supported networks and platforms have to work even harder to win marketing dollars amid intense competition, shrinking content budgets and now — production stoppages.
Target is recalling about 4.9 million Threshold-branded glass candles over laceration and burn hazards, according to a recall notice.
Driving the news: The retailer has received 137 reports of the candle jars breaking or cracking during use, and six injuries, including lacerations and severe burns, have been reported, per the notice posted on the U.S. Consumer Product Safety Commission website.
Say goodbye to Oscar Mayer’s Wienermobile and hello to the Frankmobile — the new name for the brand's beloved hot dog-shaped vehicle.
Driving the news: Kraft Heinz announced this week that it renamed the iconic vehicle for the first time since 1936 to pay homage to a new recipe for Oscar Mayer's 100% beef franks, which debut nationwide this month.
In ways various and sundry, blockchain technology is quietly thriving, even as regulators everywhere tighten their grip on the Wild West of cryptocurrencies.
Why it matters: In the wake of FTX’s collapse and a gradual rebound from the crypto winter’s darkest days, the formerly freewheeling market is in transition as regulators grapple with how to protect investors.
This global economy in the 2020smay look much like the previous decade in one important way: The era of rock-bottom interest rates will return.
That's the takeaway from research presented at a conference hosted by the Fed on Friday morning. It has big implications for the ultimate level to which Fed officials will need to tighten policy to cool the economy.
Why it matters: Global policymakers have debated what pandemic-era shifts would mean for how central bankers would need to set policy in the long term.
Never let a (banking) crisis go to waste. That's the message this week from a trio of superstar financial economists — Anat Admati, Martin Hellwig and Richard Portes — surveying the number of insolvent banks in America.
Why it matters: Historically, bank regulators haven't worried very much about solvency. But maybe now's a good time for them to start doing so.
Jeff Jordan is stepping back from making new investments at Andreessen Horowitz, nearly a dozen years after joining the venture capital firm and leading such deals as Airbnb, Fanatics, Instacart and Pinterest.
The big picture: It's kind of surprising that Jordan lasted this long at one place, given his penchant for trying on new hats.
Morgan Stanley CEO James Gorman will relinquish his title as CEO, and transition to the role of executive chairman within a year.
Why it matters: Gorman's forthcoming departure from the powerhouse in investment banking and deals comes at a pivotal time for a sector being rattled by higher interest rates.
It’s shaping up to be the busiest week of the year so far for investment-grade corporate bond deals.
Why it matters: It’s one way the looming risk of a U.S. debt default is showing up in the markets. Borrowers are trying to squeeze in deals before any potential disruption from the debt ceiling drama.
Americans without college degrees are more likely to be denied credit than those who finished college, finds a new report shared first with Axios from left-of-center think tank Third Way.
Why it matters: The report highlights the different economic worlds these two groups move in, and comes at a time when the White House and Democratic party are trying to regain a foothold among voters without college degrees — or, as the New York Times put it, "bridge the 'diploma divide'."
The U.S., Japan and U.K. have announced major chip and quantum computing investments ahead of this weekend's G-7 leaders summit in Hiroshima, Japan.
Why it matters: These investments accelerate the tech decoupling between democracies and China and consolidate America's pivot to active industrial policy for the first time since World War II.
Nobody likes being cramped on a flight for several hours — especially when your seatmate keeps licking you.
Take it from me. My bare arm tasted delicious to the fluffy white pup sitting next to me on a recent Delta flight.
Why it matters: Passengers put up with a lot when they travel. Sitting cheek to jowl with other people's pets increasingly seems to be part of the experience.
Five TikTok creators are suing Montana's attorney general over plans to impose a statewide ban on the popular Chinese-owned social media platform due to security concerns.
Why it matters:The lawsuit argues that the ban that would prohibit Montana residents from using the app infringes on First Amendment rights and is "unconstitutional and preempted by federal law."
With one kid in college, two soon heading there, and a staff full of ambitious, idealistic 20-somethings, I think a lot about what it'll take to thrive professionally in coming years.
Why it matters: Work and the world will operate much differently than today, as machines with humanlike capabilities turbocharge the already high velocity of change in our professions, companies and industries.
/2023/05/18/1684450855874.gif?w=3840)