The Daily Valet. - 2/6/25, Thursday

Thursday, February 6th Edition
Cory Ohlendorf  
By Cory Ohlendorf, Valet. Editor
Should I really do my taxes early this weekend? Really?

Presented by

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Today’s Big Story

40,000+ Federal Workers Have Resigned

 

Civil servants struggle with whether to leave their posts in advance of today's deadline

 

More than 40 thousand federal workers have raised their hands to resign, accepting the “buyout” offer put forward by the Trump administration last week. The Office of Personnel Management last week told workers that they have until today to decide whether to take a buyout. People who do so can continue to be paid through September without working, OPM has said. Unions and a dozen attorneys general say the offer isn’t guaranteed.

A day before the offer expires, the total was double what was first reported by Axios earlier this week but still less than the goal advertised by Elon Musk, who’s spearheading President Trump’s vision for a smaller and more loyal workforce. Musk shared a post on X, his social media platform, that claimed that between 5% and 10% of employees eligible for the order would take it.

Asked about the total, which is less than 2% of the civilian workforce of 2.3 million, an official with the Office of Personnel Management told the Washington Post the number of employees who have accepted the offer “is growing.” The White House said it expects a big spike in workers taking the package in the final hours before the deadline. Of course, some federal employees can’t take it, even if they wanted to—military personnel, those in immigration enforcement, certain national security staffers and National Transportation Safety Board employees, are not eligible. But CIA staffers are.

Hanging over the buyout offer is the possibility that workers who opt to keep their jobs could be targeted for layoffs later. Officials made clear that civil servants faced an uncertain future if they did not leave now. At the Education Department on Wednesday, employees who had not accepted the offer were told that the agency was considering reducing its departmental footprint.

Interestingly, the federal workforce's normal attrition rate is about 6% a year. Which means some of those who've taken the buyout may have already been planning to leave government service anyway but will now receive a larger severance package.

 
Dig Deeper:
 
What happens after the 'Fork in the Road'? A lawyer for ex-Twitter employees weighs in.

It’s Tax Time

 

It’s a pain, but you should file sooner rather than later

Speaking of that buyout offer, IRS employees will not be allowed to take advantage of it. At least, not until after the taxpayer filing deadline, according to a letter sent Wednesday to employees. That’s right: Tax season is officially upon us. And while most of us are not huge fans of this time of year, let this be your reminder to file your taxes early.

Did you know that the average American spends 13 hours and $270 to file the most basic federal tax form? Our country's tax code spans 4 million words, and its complexity contributes to why a fifth of eligible Americans don't claim one of the most valuable tax credits available. “The current system wasn't designed top to bottom consciously,” Alex Muresianu, senior policy analyst at the Tax Foundation, told Yahoo Finance. “The story of the income tax is of individual changes made across several decades and then it piled up into what we have today.”

Of course, the best reason to file your taxes early is to get your money sooner if you are expecting a tax refund. But it also reduces the risks of tax fraud and identity theft. Between 2021 and 2022, the amount of fraudulent tax refunds identified by the IRS increased from about $16 million to over $800 million. This sort of tax fraud mostly occurs when someone else files a tax return with your name and Social Security number to claim your tax refund.

 
Weekend Project:
 
Take a little time for a pre-tax financial tune-up. Here's everything you need to know.

A New Bird Flu Strain in Dairy Cows

 

Cows in Nevada test positive for a strain that’s been linked to severe human infections

The U.S. Department of Agriculture has detected a bird flu strain in dairy cattle that previously had not been seen in cows, the agency’s Animal and Plant Health Inspection Service said on Wednesday. The variant, known as D1.1 genotype, belongs to a different genetic lineage than what's fueled the infections in dairy cattle over the past year. This one is the same that’s circulated widely in wild birds—and in several instances led to severe illness in humans.

It's not yet clear just how long the virus has been circulating in cattle and whether it's widespread. For now, Worobey says it opens up a whole new set of questions about the trajectory of the outbreak in cattle and what that could mean for humans who are exposed. According to NBC News, nearly 70 people in the U.S. have contracted bird flu—most of them farm workers—as the virus has circulated among poultry flocks and dairy herds, according to the Centers for Disease Control and Prevention.

As CNN points out, this is the second known instance of avian flu being introduced into cattle herds by birds, and experts say it marks a turning point in the nation’s efforts to contain the virus. Scientists are studying this particular strain to try to learn more about its capabilities and how it appears to be spreading so aggressively. “There is a lot of H5N1 out there and we're going to see more cases in humans,” Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota, told Axios. But right now, “they're going to be single, isolated cases.”

 
Dig Deeper:
 
Scientists were slow to recognize that Covid spreads through the air. Some are now trying to get ahead of the bird flu.

Jimmy Butler Headed to Warriors in Blockbuster Trade

 

Heat sending disgruntled star to San Francisco after trade demand and multiple suspensions

Jimmy Butler has once again found a new NBA team, with the bridge casually burned behind him. The Miami Heat granted their disgruntled star's trade request on Wednesday—on the eve of the NBA trade deadline—finalizing a deal to send him to the Golden State Warriors, according to ESPN's Shams Charania. The deal will reportedly cost the Warriors Andrew Wiggins, Dennis Schroder, Kyle Anderson and more.

Minutes after first breaking news of the trade, Charania reported Butler has agreed to a two-year, $121 million extension to stay with Golden State through the 2026-27 season. Butler subsequently provided his own confirmation, via musical tweet. This comes after a total breakdown in the relationship between the Heat and their best player. Butler was suspended on three different occasions, the most recent of which was for an indefinite period of time and effectively sealed his exit.

During his tenure in Miami, Butler led the Heat to two NBA Finals and three Eastern Conference Finals appearances. Only LeBron James and Dwyane Wade have scored more playoff points than Butler in franchise history. He was an All-Star in Miami twice. Golden State will be his fifth team in his 14th NBA season after playing for the Chicago Bulls, Minnesota Timberwolves, Philadelphia 76ers and Miami.

 
FYI:
 
Golden State, with an aging superstar in Stephen Curry, are in 10th place in the Western Conference.

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Shopping

What We’re Buying

 

Trousers

 

Madewell just updated their sale section, which means it's the perfect time to score some seasonal staples while saving substantial money. There's everything from a range of denim styles to sweaters and outerwear—all for up to 70% off. Grab it now to have some new gear to wear over the next few months and easily transition into spring.

 
Our Pick:
 
Cotton-wool blend trouser, $148 / $68.99 by Madewell

Morning Motto

Don’t get ahead of yourself.

 

Focus on the step in front of you, not the whole staircase.

Follow: 

@candidly.carly

 

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