Wednesday, December 14 top stories
It is Wednesday, December 14. Here are today’s top stories.
Major winter storm
Axios said there is a severe winter storm that is sweeping through the Midwest and South with blizzard conditions and freezing rain while spawning tornadoes elsewhere. The storm is now moving to the East Coast.
Over 31 million people were under winter storm warnings or advisories. At least five tornadoes touched down in northern Texas on Tuesday.
A tornado in Keithville, Louisiana tragically killed a 30-year-old mother and her 8-year-old son when their home was demolished. About 20 to 30 other homes were severely damaged.
Weather forecasters say record-cold air is poised to enter the U.S. from Canada during Christmas week and it may be accompanied by major winter storms. So if you are thinking of traveling during the Christmas holiday, you may want to stay updated on the weather.
Stephen “tWitch” Boss dies at 40
Stephen “tWitch” Boss, who was a co-host of the Ellen DeGeneres Show from 2014 to 2022 and a talented hip-hop dancer, passed away at the age of 40 on Tuesday. His death is ruled a suicide. Stephen leaves behind a wife and three children.
Stephen was the runner-up on the TV reality competition show, “So You Think You Can Dance” in 2008 and returned to the show in 2022 as a judge.
Stephen would often post videos of him dancing with his wife Allison Holker and their children. These videos now have comments from those who say they are heartbroken.
Allison said Stephen was the best husband and father and an inspiration to his fans and that she is asking for privacy during this difficult time for herself and their children.
Ellen said she is heartbroken.
Biden signs gay marriage law
President Biden signed the Respect for Marriage Act into law at a White House ceremony.
AP News explained that the law ensures that same-sex and interracial marriages are recognized as legal unions by federal and state governments.
Here is some history. About 25 years ago, Congress passed the Defense of Marriage Act (DOMA), which said marriage was between one woman and one man. That meant gay married couples couldn’t file taxes together or receive Social Security benefits. States that did not support gay marriage were not required to recognize same-sex couples who got married in a legal state. In 2013, the Supreme Court said parts of the DOMA were unconstitutional.
In 2015, the Supreme Court said it was unconstitutional to impose a ban on same-sex marriage and that decision legalized gay marriage nationwide.
Interracial marriages have been legal since 1960 after the Supreme Court ruled that there could be no state laws banning marriages between people of different races.
This summer, the Supreme Court overturned Roe v. Wade, which allowed states to ban abortion again. Justice Clarence Thomas wrote that the court may reconsider previous Supreme Court decisions related to same-sex and interracial marriages.
That statement spooked many in the LGBTQ community and their supporters.
President Biden and Congressional Democrats decided to move fast to craft a bill to guarantee federal recognition of same-sex and interracial marriage. There was a small portion of Republicans who supported the effort. The bill passed the House in July and passed the Senate last week.
The act’s main force is to require all states to recognize same-sex marriages that were performed legally, regardless of which state the marriage was performed.
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Grant Wahl died from preexisting condition during World Cup
The wife of Grant Wahl, the American soccer reporter who suddenly and unexpectedly died while covering a game during the World Cup in Qatar, disclosed that Grant died from an aortic aneurysm that ruptured.
It is when the aorta, the largest artery in your body, ruptures and causes massive internal bleeding.
The wife, Celine Gounder, said it was one of those things that were brewing for years and that it just happened to rupture at that time.
There was speculation that Wahl was killed because there was controversy about him being barred entry to a stadium for wearing a pro-LGBTQ rainbow t-shirt and he wrote some articles that cast a negative light on Qatari organizers. But these suspicions are moot with the discovery of the aortic aneurysm rupture.
Wahl worked for Sports Illustrated, CBS Sports, and Fox Sports in his career.
Sam Bankman-Fried denied bail
Sam Bankman-Fried appeared in court in the Bahamas on Tuesday. His attorney asked for him to be released on a $250,000 bail and cited concerns with conditions in jail because of his vegan diet and ADD diagnosis.
The judge in the case denied bail, saying he was too much of a flight risk. He was ordered to stay in custody until the next court date on February 8.
Sam is facing eight indictments from federal prosecutors in New York City that accuse him of fraud in how he operated his FTX cryptocurrency exchange that collapsed. There are over $8 billion in customer losses. He faces over 100 years in prison if he is convicted. Sam’s lawyer said they would resist attempts to extradite him to the U.S.
Sam made several large political donations at the height of his company, including over $5 million to Joe Biden’s 2020 campaign. Federal prosecutors said he donated tens of millions to both Republicans and Democrats. Prosecutors urged political campaigns and candidates to return donations they received from Sam.
1099-K tax form for Americans who use Venmo / Cashapp / PayPal
Americans who were paid more than $600 via payment apps such as Venmo, Cashapp, or PayPal in 2022 should be expecting to receive a 1099-K tax form from the IRS. There may be 40 million Americans who will get these forms. This also applies to those who sold items through eBay or worked for Uber or DoorDash or received money from Airbnb rentals.
Axios explained that 1099-Ks used to go only to those who took in more than $20,000 through more than 200 transactions. They are usually small business owners. But because of a law that passed last year, the American Rescue Plan — which mainly provided coronavirus relief to Americans — the 1099-K forms will now go to those who made $600 or more in payments.
An explainer on H&R Block’s website said whether you have to pay taxes on a 1099-K largely depends on your situation. If you received money for personal reimbursements such as a restaurant bill or rent, you won’t owe taxes, but if you had a business or a side gig or sold items, it is possible that you will owe taxes.
If you ignore your 1099-K form and the IRS believes that you owe taxes, then you may receive a letter saying you owe taxes and penalties on top of that. So if you receive this form and feel confused about it, you may want to consult with a tax professional.
Axios said there are concerns from both within the IRS and Americans in general that it will be overwhelming for everyone with what to do with these forms. There is a lobbying group that hopes to change the law before the end of the year. eBay and PayPal are supporters of this effort.
That is all the top stories for today. See you tomorrow and stay with the light.
https://www.axios.com/2022/12/12/winter-storm-threatens-us-heavy-snow-rain-wind
https://www.cnn.com/2022/12/14/us/grant-wahl-cause-death/index.html
https://abcnews.go.com/Business/live-updates/sam-bankman-fried-FTX-arrest/?id=95098098
https://nypost.com/2022/12/13/sam-bankman-fried-tells-court-he-plans-to-fight-extradition/
https://finance.yahoo.com/news/sam-bankman-fried-sits-bahamas-120000514.html
https://www.axios.com/2022/12/14/surprise-tax-forms-2023
https://www.hrblock.com/tax-center/irs/forms/what-is-form-1099-k/