Good morning! This is Daniel de Visé bringing you your Daily Money update.

It’s been quite a whirlwind week in Washington, D.C. Here are some key highlights:

On Tuesday, the U.S. Postal Service announced it would halt incoming parcels from both China and Hong Kong indefinitely. However, by Wednesday, that decision was reversed, and they stated they would continue accepting those packages.

This change will not affect the delivery of letters and large envelopes from China and Hong Kong.

Here’s a detailed report.

Has IRS Direct File Been Discontinued?

The typical American who hires a tax professional to handle even a simple tax return usually pays over $200, according to industry estimates. However, this year, more alternatives are available for taxpayers wanting to save money.

But there might be some uncertainty. The most talked-about new free tax-filing service, IRS Direct File, faced criticism this week from Elon Musk, who claimed on Twitter Monday that the program had been “deleted.”

Financial Worries Don’t Deter Spending

Many consumers report feeling stressed about their finances. Nevertheless, they continue to spend money quite freely.

Data from the U.S. Census Bureau reveals that retail sales for the 2024 holiday season rose unexpectedly by 4% compared to 2023, totaling an impressive $994.1 billion. This exceeded forecasts made by the National Retail Federation (NRF). Additionally, year-round sales grew by 3.6% over 2023, as reported by the NRF.

So, what’s going on here?

About The Daily Money

Every weekday, The Daily Money brings you the latest consumer and financial news from YSL News, simplifying complicated stories, offering concise summaries, and detailing how various events, from Federal Reserve interest rate changes to bankruptcies, affect you.

Daniel de Visé focuses on personal finance