CONSUMER CATCH-UP: Delta going carbon-neutral, the IRS backs away from taxing video game currency, and clothing sales the lowest in a decade

SAN FRANCISCO (KGO) -- Delta going carbon neutral

Delta Airlines, one of the biggest airlines in the world, has committed to spending $1 billion over the next decade to go carbon neutral.

Currently, Delta emits 40 million metric tons of carbon dioxide per year, 98 percent of which comes from their planes, about the same as a 10 coal-fired plants.

Instead of relying on carbon footprint offsets, Delta plans to invest in biofuels, an updated fleet, carbon removal from the air and nature-based solutions like wetland restoration and grassland conservation.

This announcement is the largest carbon neutral commitment from a U.S. airline since JetBlue announced earlier this year that they would make all of its domestic flights carbon neutral by July.



The IRS backs away from language indicating video game currency needs to be included in your taxes

The Internal Revenue Service has quietly removed text from its website that advised taxpayers that in-game currency used on video game platforms is taxable.

The website, first updated with this language in October, informed players of video games like Fortnite that any in-game currency could be subject to federal taxes. Fortnite's V-bucks, like many other games' virtual money, can be purchased with real dollars. The IRS had previously stated that other online currency, like Bitcoin and Ether, are subject to tax, and the language used on the website indicated the IRS intends to treat V-bucks the same.

However, this language was removed from the website on Wednesday. On Friday, the IRS issued a statement saying, "The IRS recognizes that the language on our page potentially caused concern for some taxpayers. We have changed the language in order to lessen any confusion. Transacting in virtual currencies as part of a game that do not leave the game environment (virtual currencies that are not convertible) would not require a taxpayer to indicate this on their tax return."

Tax experts warn that just because the text was removed from the website that all video game money is now tax-exempt. Players should consult their tax experts in order to fill out their returns accurately.



Clothing sales drops to lowest in a decade

The apparel industry saw a 3.1% drop in sales last month, the most since 2009, according to the Commerce Department.

Analysts noted that consumers aren't buying clothes as much as they used to. "I think this is the new normal," said Retail Metrics founder Ken Perkins. "Baby boomers are aging and buying less clothing than they used to. And I don't think millennials are inclined to spend as much on their wardrobes." Other factors, like the increased casual nature of workplaces, and the rise of rentable wardrobes were also thought to contribute to declining sales.

Some retailers noted that this past January was unseasonably warm -- the second-warmest January in the United States in the past 29 years -- putting a damper on the sales of cold-weather clothing.



Take a look at more stories and videos by Michael Finney and 7 On Your Side.

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