Overturned: The Louisiana Supreme Court today ruled that COVID-19 restrictions put in place by Gov. John Bel Edwards violated the rights of Baton Rouge-area Pastor Tony Spell, who was charged for defying the governor’s order, WAFB-TV reports. The Supreme Court reversed a lower court’s decision and dismissed six charges against Spell. Read more.
Slowdown: Companies that saw substantial growth during the pandemic are starting to take a more cautious approach toward hiring and spending. From Peloton and Meta to Twitter, Uber and others, corporate belt tightening comes as the Federal Reserve is raising interest rates, global stock markets have fallen and concerns of an economic slowdown are mounting. Read the full story from The Wall Street Journal.
Records tossed: An audit by the Treasury’s inspector general for tax administration revealed the IRS has tossed data for millions of payers, sparking anger from the tax community, according to CNBC. The material, known as paper-filed information returns in accounting parlance, is sent yearly by employers and financial institutions and covers taxable activity, such as W-2 forms, with copies sent to taxpayers and the IRS. See the full story.