Tag: IRS form 6419: Advance Child Tax Credit

Although tax season 2022 seemed to just be an extension of tax season 2020 and 2021 I am so grateful to have confirmed that many of our processes worked well with our “mostly remote” staff and clients.  One of our favorite office sayings is  “it’s not a problem, it’s an opportunity”; this tax season we learned and confirmed yet again the importance of good clear communication, proactive actions and understanding…  Read more

The good news on the travel front is that the US Centers for Disease Control and Prevention has removed all countries from its “Do Not Travel” recommendations. The highest Level 4 designation will now be reserved for “special circumstances” reflecting a dangerous spike in COVID-19 cases, a new variant or health care infrastructure collapse. You can find the CDC’s travel recommendations here. Monday the mask mandate for air travel was lifted as U.S.…  Read more

For once I am glad that tomorrow is NOT the filing deadline.  We accounting professionals usually look forward to closing the office and going on vacation on April 16th.  This year the deadline is actually April 18th and this little bit of extra time means that families can get together for the Easter/Passover holiday and include their favorite accountant without guilt. This lovely vase of flowers sits in my office…  Read more

During my recent trip to Florida I saw that while the mask mandate was still in place in the airports and on our flight most public spaces had dropped the requirement even as the highly transmissibleBA.2 strain of the virus continues to spread and accounts for as much as 70% of US infections.  Now health officials are recommending a fourth shot of a COVID-19 vaccine to protect vulnerable groups such as older…  Read more

Just as we were seeing news of the omicron variant surge subsiding, up pops the BA.2.  Researchers are keeping a close eye on this subvariant BA.2  reporting that this variant is more transmissible, but its rapid spread overseas also coincides with a drop in protection measures in Europe and low rates of effective immunization in Hong Kong.  This variant may not result in a new surge in the US because vaccines and…  Read more

After two years of pandemic disruptions, I am reading about people who have developed unhealthy habits and may need a reboot. Data from Nielsen shows that sales of alcohol are higher now than before the pandemic (this could be due to the ease of on-line ordering and binge watching series in the evenings while munching on popcorn).  In addition fitness trackers show that people are on the average taking fewer steps,…  Read more

One of the odd tell-tale symptoms of COVID-19 is the abrupt loss of sense of smell reported by many patients. Researchers have recently uncovered the mechanism behind this loss. While the COVID-19 virus does not infect the nerve cells in the nose that detect and transmit information about odors to the brain, it does infect supporting cells in the nose. The subsequent inflammation wreaks havoc on the smell receptors and even…  Read more

One of the side effects of the pandemic has been the expansion of online grocery shopping and speedy delivery. But in large cities, many online grocery purchases are fulfilled by businesses that have taken over retail storefronts to become “ghost stores” or “dark stores.” These are small scale fulfillment centers that serve only ecommerce customers, with most orders being delivered by bike. These dark stores have the potential to reshape urban neighborhoods,…  Read more

Signs are emerging that the surge driven by highly transmissible Omicron variant is fading. Across the country, cases and hospitalizations are falling from record peaks. According to data from Johns Hopkins, the seven-day average for new cases was 129,000 on February 16, drastically down from 800,000 at the peak in mid-January. Data from the CDC shows a 9% drop in deaths over the last week. While mortality rates lag behind case…  Read more

It feels like prices are increasing faster than the inflation index shows; we are experiencing “sticker shock” daily as we shop for personal and business needs.  Some businesses increase their prices in ways that may not seem so obvious; have you noticed those ice cream containers are shrinking or that services are reduced?  The Labor Department’s consumer-price index measures how much consumers pay for goods and services and includes some of…  Read more

How sad when we consider that more people in the world are now sick with the same illness than at any time since the 1918-1919 influenza pandemic. By mid-January, about one in five Americans had contracted the Omicron variant, a number which could double by mid-February. While an estimated 80-90% of those infected with the highly contagious Omicron variant are asymptomatic, the widespread of the virus means that many millions of people…  Read more

It is being reported that a new strain of the Omicron variant has emerged just as the Omicron surge appears to be peaking in the U.S. The new strain, called BA.2, is said to be more contagious than its sibling Omicron variant, BA.1, but is also less likely to cause severe disease compared with the Delta variant. The new variant is spreading quickly in Denmark, England, and Germany, and has also been…  Read more

It is being reported that the rapidly spreading Omicron variant is causing worker shortages across the entire economy as employees are out sick or quarantining. At Delta Airlines, 8,000 employees contracted COVID-19 recently, contributing to more than 2,200 cancelled flights. Grocery stores and many other businesses are cutting back on their product lines. A shortage of truck drivers means shipments are delayed, so store shelves are empty. Children are taking public buses…  Read more