Update: The state will begin ‘processing tax returns’ sometime around the week of February 28. You can still file your (state) taxes, but they won’t be processed until late February or early March. Taxpayers can expect to begin to receive refunds in early April. Tax experts encourage taxpayers to file (both state and federal) electronically.
Free Tax Filing: Davidson-Davie Community College is a VITA tax site. If you meet the income criteria, you can file your taxes for free! The process is confidential and is done right on campus! Details: Schedule an appointment at http://ow.ly/g2fN50HCq6I or call 336.224.4569.
Headline of the Morning
“The IRS has been getting 1,500 calls per second”
Last year, the IRS took an average of 199 days to process 6.2 million responses from filers to IRS-proposed adjustments on their returns, according to the National Taxpayer Advocate. https://www.wxii12.com/article/irs-notice-2022-dont-panic/39047363
New this morning: Russia suggesting that it will ‘pull back some of its forces’?
Some see the move as a ray of hope amid rumors of war, but Western officials are still warning that Russia could invade Ukraine at any moment. https://journalnow.com/news/national/russia-says-some-forces-pulling-back-a-potential-sign-of-de-escalation-in-ukraine/article
CVS to roll-out ‘set’ lunch break times for pharmacies.
The nation’s largest pharmacy chain will begin “pre-scheduled, uninterrupted” lunch breaks between 1:30 p.m. and 2 p.m. for pharmacy workers at most CVS locations, starting Monday, Feb. 28. BTW: Federal law currently does not require lunch or coffee breaks, according to the Department of Labor.
UNC-Chapel Hill’s media center to be named after the ‘voice of the Tar Heels.’
The communications center next to the Dean E. Smith Center will be named the Woody Durham Media and Communications Center.
The average price for used cars and trucks jumped by 40% from January 2021 to January of this year. Prices of new vehicles are up around 12%, averaging around $46,000. The computer chip shortage is contributing to the higher new car price tag.
Have you filled up recently? Gas prices are up 40%, averaging around $3.50 a gallon.
Update: Davidson County Schools will be ‘masks optional’ starting next Monday, Feb. 21. The district making the decision due to the recent drop in COVID-19 positivity rates and the state health department’s updated covid guidance for schools.
Canadian Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, for the first time in Canada’s history. Extreme measures to help ‘end ongoing protests against COVID-19 restrictions’ that have effectively paralyzed parts of Ottawa and interrupted cross-border traffic with the United States. The move allows the Canadian government to ‘temporarily freeze the bank accounts of protesters, ban public assembly’, and enforce other restrictions.
BTW: A so-called “Freedom Convoy” is being planned for the US starting February 25 in Los Angeles then heading toward Washington, DC with “many stops in between’ suggests an email from the organizers. https://www.newsweek.com/canada-protest-live-updates-some-provinces-ease-covid-restrictions-1678991
No survivors? One body recovered still seven missing after that small plane crashed off the Outer Banks on Sunday. The Coast Guard has two boat crews out searching along with an air crew from Elizabeth City.
Winter Olympic Update: It’s really WINTER in Beijing. Olympic athletes are competing in frigid temperatures, of minus 13 degrees.
The Winter Olympic games in Beijing continue thru this weekend (Feb 20) on NBC.
If you have a car loan, you may want to refinance?
Seriously. According to consumer advocate Clark Howard, “refinancing an auto loan is so easy and straightforward that most people should at least explore the idea — especially if interest rates are low”. Here is Clark’s basic rule of thumb for determining if you’re a candidate for an auto refinance:
If you can qualify for an interest rate that is lower than the rate on your existing auto loan, you should move forward with refinancing as long as you do not extend the term of your loan. If you do refinance, you’ll likely see monthly savings immediately.
-An Ideal Refinance Should Both Lower Your Payment AND Shorten Your Term
-Credit Unions Are the Place To Shop for Auto Loan Refinances