News Round Up – February 2022

IRS Works to Overcome Tax-processing Backlog, Automated Notice Problems | Accounting Today

The Internal Revenue Service is coming under increasing pressure from Congress and tax professionals to address the backlog of unprocessed tax returns from last year and to stem the tide of automated collection notices from its computer systems that have been flooding taxpayers who already filed their returns.

Economy adds stunning 467K jobs in January despite omicron surge | The Hill

While the unemployment rate ticked up slightly to 4 percent, January job growth far exceeded the expectations of many economists, who feared the U.S. would lose jobs last month for the first time since December 2020.

U.S. INFLATION JANUARY 2022: CONSUMER PRICES JUMP 7.5%, FASTEST SINCE 1982 | BLOOMBERG

U.S. consumer prices surged in January by more than expected, sending the annual inflation rate to a fresh four-decade high and adding more urgency to the Federal Reserve’s plans to start raising interest rates.

Five Key Consumer Trends that Spell Opportunity for Businesses in 2022 | CO by the U.S. Chamber of Commerce

From self-care in consumer experiences to embracing the metaverse, CO— spoke to three of the industry’s noted futurists for a view into five key trends that will shape the business landscape in 2022. The three trend forecasters predict how consumer attitudes and expectations are shifting — and how companies can prepare to drive business throughout the year.