By Staff Reporters
The stock markets were closed yesterday for MLK Day. But, with everyone there talking about AI, one stock to watch is Nvidia, which has continued to climb this year after soaring nearly 240% last year.
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The Internal Revenue Service (IRS) has announced plans to launch a pilot plan, Direct File, providing a free method for U.S. workers to file their federal taxes. This new system aims to allow taxpayers to submit their federal tax returns at no cost through an in-house filing system. This development presents a significant challenge to tax preparation firms like TurboTax.
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And, despite the IRS, it’s never a bad time to be rich. The world’s five richest people have more than doubled their wealth since 2020, according to Oxfam. Tesla’s Elon Musk, LVMH’s Bernard Arnault, Amazon’s Jeff Bezos, Oracle’s Larry Ellison, and Berkshire Hathaway’s Warren Buffett together had $405 billion in March 2020 compared to $869 billion as of November 2023, the charity group found.
Oxfam predicts that if things continue as they are, the world will see its first trillionaire within the next 10 years—though the anti-poverty group also noted that almost 5 billion people have become poorer over roughly the same period.
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