There are several headlines making waves in the world of business this Friday. The IRS has announced plans to expand Direct File, a free tax filing program, nationwide by 2025. During the 2024 tax season, the program showed success with over 140,000 users saving an estimated $5.6 million in tax preparation fees. While the pilot focused on simple filings, more details are expected to be shared by the IRS later this year.
Meanwhile, Boeing’s plans to increase production of its 737 Max aircraft have been put on hold for several months by the Federal Aviation Administration (FAA). This decision comes after a quality incident on an Alaska Airlines flight in January prompted the FAA to request a quality improvement plan from Boeing within 90 days. Boeing’s CEO has stated that the company has received feedback from over 30,000 comments on how to improve.
In medical advancements, Moderna is making strides towards developing a bird flu vaccine with potential funding from the U.S. government for late-stage trials. Alongside Moderna, discussions are reportedly taking place with Pfizer as well. Bird flu cases primarily affect livestock workers who are in close contact with infected poultry or cattle.
Shifting gears to consumer attitudes and behaviors, a survey conducted by LendingTree revealed that 78% of Americans now view fast food as a luxury rather than a cheap, quick meal. Rising prices have led many people to cut back on fast food purchases, with two-thirds expressing shock at their recent bills. This cultural shift is attributed to higher inflation and changing perceptions around fast food consumption.
