3 To Know: Blood pressure tablets recalled, more
1. Blood pressure tablets recalled over potential cancer risk, FDA announces
Four lots of the blood pressure medication Quinapril have been voluntarily recalled by drug manufacturer Lupin Pharmaceuticals Inc. over concerns it could increase the risk of cancer, according to the Food and Drug Administration.
Lupin Pharmaceuticals Inc.’s Quinapril tablets, sold in 20 mg and 40 mg, may contain an elevated level of nitrosamine impurity, N-Nitroso-Quinapril, above the acceptable daily intake level. Nitrosamine impurities are common in consumables, including cured and grilled meats, vegetables and dairy products, according to the recall.
“Everyone is exposed to some level of nitrosamines,” the recall states. “ These impurities may increase the risk of cancer if people are exposed to them above acceptable levels over long periods of time.”
Patients who are on the medication don’t need to stop taking it immediately but are advised to discuss an alternative treatment with their healthcare provider.
The affected lots were distributed from March 2021 to Sept. 2022 and have expiry dates ranging from Dec. 2022 to March 2024. They came in 90-count bottles. See the affected lot numbers here.
Lupin Pharmaceuticals Inc. said it stopped making the drug in September and was working with distributors to arrange for the return of the recalled product lots.
No illnesses associated with the recalled drug have been reported thus far, the company said.
2. IRS delays $600 1099-K tax reporting for Venmo, PayPal, CashApp and more
2023 was to be the first year in which people who earned at least $600 from online platforms like eBay, Etsy, Venmo and CashApp were required to file a tax return.
But right before Christmas, the Internal Revenue Service announced it wouldn't make e-commerce platforms send an income tax form known as 1099-K to businesses that earned at least $600 in 2022.
“To help smooth the transition and ensure clarity for taxpayers, tax professionals and industry, the IRS will delay implementation of the 1099-K changes,” Acting IRS Commissioner Doug O'Donnell said in a statement published Friday.
What is the limit for 1099-K reporting in 2022? The IRS said it would return to prior thresholds where e-commerce platforms would only be required to send 1099-K forms to entities that earned $20,000 in payments from over 200 transactions in 2022.
Why was the reporting threshold lowered to $600? The $600 reporting threshold was a product of the $1.9 trillion American Rescue Plan, which was signed into law in 2021. The measure was intended to lower the tax gap between what people owe in taxes versus what they end up paying. A 2021 report by the Joint Committee on Taxation estimated that the measure would bring in $8.4 billion in tax revenue from 2021-2031.
Does Venmo report to IRS for personal use? The IRS said, “the law is not intended to track personal transactions such as sharing the cost of a car ride or meal, birthday or holiday gifts, or paying a family member or another for a household bill.”
Venmo says IRS requires it along with all payment processors in the United States “to provide information about customers who receive payments for the sale of goods or services,” according to a blog post.
“We do not report friends and family transactions like splitting the bill on something,” said Joseph Gallo, a spokesperson at PayPal, the parent company of Venmo. “Payments have to be sent as ‘goods and services’ for us to consider these under this rule,” he told USA Today. – Elisabeth Buchwald/USA Today
3. Check your washer: Samsung recalls nearly 640,000 top-loading washing machines due to fire hazard
Samsung is recalling nearly 664,000 top-loading washing machines because the units can short circuit and overheat, posing a fire hazard.
The recall, announced Thursday, involves 14 models of the washers equipped with super speed wash, according to the Consumer Product Safety Commission.
The recall includes model series WA49B, WA50B, WA51A, WA52A, WA54A and WA55A.
The appliances were sold between June 2021 and December 2022 at retailers including Costco, Best Buy, Home Depot and Lowe's.
The company said it has received 51 reports of "smoking, melting, overheating or fire" involving the washers, but a software update can fix it.
Owners of the machines should "immediately stop" using the machines until they are updated, the CPSC said. The safety regulator is urging people with the recalled washers to see if their machine has received the software update Samsung put out to fix the issue.
The model and serial numbers of consumer washing machines are located on either the label inside of the top lid or the label on its rear.