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Source: REACH Media / Reach Media


 

HERE’S WHAT YOU NEED TO KNOW ON TUESDAY, MAY 2ND, 2023

 

 

WATCH BELOW

 

Sybil’s Birthday Shoutouts

Happy Birthday to:

Dwayne “The Rock” Johnson

Comedian, Rapper and Wild ‘N Out Star DC Young Fly, born John Whitfield

Actor Gaius Charles

NBA Star Paul George

NBA Vet Jamaal Wilkes

Happy Anniversary to Dr. Keith Ashby and Dr. Agnes Solon-Ashby!

We remember:

Inventor Elijah McCoy was born in 1844

Actor Roscoe Lee Browne was born in 1925

Detroit Tigers Player and Coach William James “Gates” Brown was born in 1934

Actor Don Marshall was born in 1936

TOP 5 NEWS STORIES

#WHATYOUNEEDTOKNOW

Tuesday, May 2, 2023

Sybil Wilkes ‘What You Need To Know’ Banking Crisis — Protests Erupt Across The Globe — Tax Reporting Mistakes  was originally published on blackamericaweb.com

1. Will Latest Banking Crisis Lead to Lumpier Mattresses?

Will Latest Banking Crisis Lead to Lumpier Mattresses? Source:Getty

What You Need to Know:

 

The banking crisis doesn’t appear to be over. Federal regulators stepped in over the weekend to rescue the second-largest bank failure in U.S. history. After losing nearly $100 billion of its deposits this year, First Republic Bank was sold to one of the world’s largest banks, JPMorgan Chase. This takeover ensures that customers will have access to their uninsured deposits.

 

First Republic is the third major bank to “go under” this year. It follows on the heels of a damaging report released by the Federal Reserve in which it accepted much of the blame for the collapse of Silicon Valley Bank in March.

2. May Day! May Day! May Day Protests Erupt Across the Globe

May Day! May Day! May Day Protests Erupt Across the Globe Source:Getty

WRITTEN AND CONTRIBUTED BY KHAMERON RILEY

 

What You Need to Know:

 

May Day, May 1st, is marked worldwide as a celebration of labor rights. This year’s festivities took the form of rallies where citizens across Europe and Asia demanded economic justice in a global outpouring of worker discontent.  

 

French police charged at radical protesters smashing bank windows as unions pushed the president to scrap a higher retirement age. President Emmanuel Marcon wishes to raise the retirement age from 62 to 64, arguing it’s economically necessary as the population ages. 

 

South Koreans pleaded for higher wages. Spanish lawyers demanded the right to take days off. Migrant domestic workers in Lebanon marched in a country plunged in an economic crisis.

 

3. Rapper Megan Thee Stallion Launches Mental Health Website

Rapper Megan Thee Stallion Launches Mental Health Website Source:Getty

What You Need to Know:

 

Rapper Megan Thee Stallion launched a new mental health website to serve the BIPOC and LGBTQIA+ community.

 

According to the Los Angeles Times, the website will provide multiple mental health helplines and resources. On Sunday, the Houston Hottie announced her Bad B– Have Bad Days Too site. It links external websites and hotlines to mental health services and therapy organizations. In addition, the page includes a “Find a Therapist” button, which directs users to the American Psychological Association to find qualified psychologists.

 

“Everybody has gone through their own trauma in their own way, and to me, ‘Traumazine’ is me facing the things that I’ve been running from about myself,” she said. “It’s comforting to know that other people are going through the same thing that you might be feeling.” August.

4. When Does It End? Southern California Cop Caught Beating a Black Man After He Surrendered

When Does It End? Southern California Cop Caught Beating a Black Man After He Surrendered Source:Getty

WRITTEN AND CONTRIBUTED BY COY MALONE

 

What You Need to Know:

 

On Friday, April 28, bystander video captured 43-year-old Gary Christian retreating with his hands up while being pursued by a California Barstow Police Department (BPD) officer, who raised his baton as he inches closer and eventually swings at the Black man. The officer appears to give an order before manhandling and subduing Christian. However, the bystander recording the video said the cop beat Christian even after he was down.

 

The officer got about four swings in on Christian before other officers arrive at the scene and help contain the situation. While limping, Christian is then handcuffed, led over to EMTs who briefly check him, then led to a police cruiser and taken away.

 

BPD said Christian was wanted on an open felony warrant for a probation violation and was recognized by the officer who attempted to make contact and place Christian under arrest, but claim Christian assaulted the officer twice.

5. How to Handle 1099-K Tax Reporting Mistakes on Your Return

How to Handle 1099-K Tax Reporting Mistakes on Your Return Source:Getty

WRITTEN AND CONTRIBUTED BY CATRINA M. CRAFT, CPA

 

What You Need to Know:

 

Over the past year, there’s been a wave of confusion around tax reporting for payment apps like Venmo and PayPal, along with e-commerce companies such as eBay, Etsy and Poshmark.


The IRS shared tax-filing tips for how to handle issues with Form 1099-K for third-party payments.