Sybil Wilkes Breaks Down What We Need to Know: January 6, 2025

Sybil Wilkes delivers the latest on “What We Need to Know,” keeping our community informed and empowered. From changes in childhood vaccine guidelines to a wide-open governor’s race in Minnesota and crucial tax deadlines for business owners, here’s a breakdown of today’s essential headlines.

Adjusting Recommendations for Routine Childhood Vaccines

The U.S. Department of Health and Human Services is planning to adjust its recommendations for routine childhood vaccines. While core immunizations for diseases like MMR, polio, and HPV will remain standard, the new proposal suggests a more targeted approach for others. This means decisions regarding flu, COVID-19, and rotavirus vaccines would shift to a shared conversation between families and their doctors, focusing on children at higher risk. These proposed changes are emerging as flu cases are on the rise across the country. It’s important to note that insurers will still be required to cover recommended vaccines at no cost to you.

Minnesota’s Upcoming Governor’s Race

Minnesota’s upcoming governor’s race is heating up. Governor Tim Walz has announced he will not seek a third term, creating a major opportunity for new leadership. U.S. Senator Amy Klobuchar is reportedly considering a run for the position, with sources saying she has received strong encouragement to enter the race. Her potential candidacy is causing other prominent Democrats, including Attorney General Keith Ellison, to re-evaluate their own political plans. On the Republican side, Mike Lindell, the “MyPillow guy,” has confirmed he is seeking the party’s nomination, adding another dynamic to the developing field of candidates.

Tax Tuesday

CPA Katrina Craft has a critical reminder for all business owners. If you paid any individual $600 or more for their services during 2025, you are required to file a 1099-NEC form for them by January 31st. This applies to payments made by check or direct deposit to non-corporate service providers, including lawyers. Failing to meet this deadline can result in significant penalties, ranging from $60 to over $630 per form, and will likely attract unwanted scrutiny from the IRS. However, if you processed payments through platforms like PayPal Business, you don’t need to worry, as those companies issue their own tax forms. Stay on top of your deadlines to keep your business finances in order.