In our view, the ease and reliability of maintenance and charging is particularly important to Lordstown’s fleet/commercial customer base, which is focused on vehicle up-time.”In line with these comments, Delaney rates RIDE shares a Buy along with a $31 price target for the next 12 months. A key achievement was the identification of over $10 billion in tax fraud and other financial crimes. These measures were taken in compliance with coronavirus restrictions.Carnival’s shares and revenues are suffering deep losses this year. The EO Update is a periodic newsletter with information for tax-exempt organizations and tax practitioners who represent them, from Exempt Organizations (Tax-Exempt and Government Entities Division) at the IRS. As more tax professionals consider teleworking during COVID-19, the Internal Revenue Service and the Security Summit partners today urged practitioners to secure remote locations by using a virtual private network (VPN) to protect against cyber intruders. You don't have to make the payment due January 15, 2021, if you file your 2020 tax return by February 1, 2021, and pay the entire balance due with your return. Taxpayers have a variety of options to consider when paying federal taxes. Largest Ever Seizure of Terrorist Organizations’ Cryptocurrency Accounts. It’s hard to figure out what is going on. The Internal Revenue Service Advisory Council (IRSAC) today issued its annual report for 2019, including recommendations to the IRS on new and continuing issues in tax administration. As of now, deadlines for estimated taxes for the 2020 tax year are: July 15 for the first and second estimates Sept. 15 for the third estimate Jan. 15, 2021 for the fourth estimate The Alabama state income tax filing due date has been extended, and state income tax payments can now be deferred. The responses from Congress, the Department of Treasury, IRS and Federal Reserve have been wide ranging. Governor Kay Ivey on Friday issued an amended Safer at Home Order to be applied Statewide. The $57,700 lunch turned out to be an excellent investment that led to a friendship and, ultimately, a business partnership. This is the first of two tips taking a closer look at the IRS Dirty Dozen tax scam list. Alabama Society of CPAs 1st Payment. ET November 21 to receive an Economic Impact Payment before the end of this year. U.S. citizens and resident aliens generally have the same filing and payment requirements regardless of where they live. For fiscal year filers with filing or payment due dates between March 15, 2020 and July 15, 2020, the COVID-19 due date is July 15, 2020. Taxpayers should remember to file or request an extension of time to file and pay any taxes they owe by the July 15 deadline to avoid penalties and interest. However, rates could be higher depending on where in Alabama you live or work, as local governments can also collect income taxes ranging from 0% to 2%. Earlier this month, Norwegian announced a prolongation of its suspension of voyages policy, covering all scheduled voyages from January 1, 2021 through February 28, 2021, plus selected voyages in March 2021. SEE MORE Tax Changes and Key Amounts for the 2020 Tax Year. Expenses used for PPP loan forgiveness: Deductible or not? The Internal Revenue Service today reminded employers that they must file Form W-2 and other wage statements by February 1, 2021, to avoid penalties and help the IRS prevent fraud. Most taxpayers who requested an extension of time to file their 2019 tax return must file today. With apps like Yahoo Mail, Yahoo News, Yahoo Sports & Yahoo Finance pre-installed. For instance, they don't have to pay taxes on some types of income. Mustang’s focus is on potential cures for blood cancers, solid tumors, and genetic diseases, using medical breakthroughs in cell and gene therapies to create targeted medications. Those four walls are food, utilities, shelter and transportation. You’ll need to make the payments four times per year, according to these due dates: April 15th (payment #1) June 15th (payment #2) As taxpayers get ready to file their 2021 taxes, they may be thinking about hiring a tax preparer. The 2020 Tax Calculator uses the 2020 Federal Tax Tables and 2020 Federal Tax Tables, you can view the latest tax tables and historical tax tables used in our tax and salary calculators here.. iCalculator aims to make calculating your Federal and State taxes and Medicare as simple as possible. The letter urges recipients to visit the special Non-Filers: Enter Payment Info Here tool on IRS.gov before the October 15 deadline to register for an Economic Impact Payment. The U.S. Department of Labor released its first round of guidance on the Families First Act. (See RIDE stock analysis on TipRanks)Liberty Global (LBTYA)Next up is Liberty Global, a holding company in the telecom sector. Hold) rating on CCL shares. The deadline to remit estimated tax payments for tax year 2020 that were originally due on April 15, 2020, and June 15, 2020, is extended through July 15, 2020. The employee retention credit is designed to encourage businesses to keep employees on their payroll. Just as our profession has been leading a path through pandemic-driven disruption by focusing on business continuity and resilience, the profession also has a crucial role to play in anticipating and mitigating the impact of climate risk. The U.S. House of Representatives on Wednesday joined the Senate in passing by unanimous consent a five-week extension of the Paycheck Protection Program (PPP). People experiencing homelessness may be eligible for a $1,200 Economic Impact Payment and $500 for each qualifying child under age 17. New Form 1040 Series Business Rules and Schemas are available. The Internal Revenue Service (IRS) today issued Notice 2020-75 PDF, which announces rules to be included in forthcoming proposed regulations. Moderna, BioNTech and Pfizer have each traded off their highs since their vaccines received regulatory clearance.Tuesday’s slide puts a small dent in a rally that has pushed Moderna’s shares to jump more than sixfold so far this year while BioNTech has nearly tripled in value. It's the IRS's goal to help all taxpayers, no matter where they live, their background or what language they speak. Taxpayers should remember that the IRS generally first mails a bill to a taxpayer who owes taxes. The current cost makes these whole house water filters hard to resist. The Alabama Department of Revenue would like to remind taxpayers to be vigilant about protecting their personal and financial information. For those who can’t file by the April 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request a six-month extension to file their return. Box 91007 Baton Rouge LA 70821-9007 1905 I mount o payment DO NOT SEND CASH. With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal income tax return next year. That means if the amount of the credit exceeds the amount of tax owed, the remainder is refunded to the business or organization. The Treasury Department and the Internal Revenue Service today released final regulations (PDF) and additional proposed regulations (PDF) under section 168(k) of the Internal Revenue Code on the new 100% additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business. Kostin lays out four clear reasons for believing that we’re at the start of another prolonged bull run. July 15, 2020. Many taxpayers may have heard of Individual Retirement Arrangements, or IRAs, but some don't know how IRAs help them save for retirement. Governor Kay Ivey and the Alabama Department of Revenue announced today that the state income tax filing due date is extended from April 15, 2020, to July 15, 2020. The U.S. Small Business Administration (SBA), in consultation with Treasury, released Wednesday a revised loan forgiveness application for the Paycheck Protection Program (PPP). Governor Kay Ivey on Tuesday issued a Safer at Home order to be applied Statewide. The U.S. Chamber of Commerce wants to help you and your clients understand the Coronavirus Small Business Loans. That presents an opportunity. Be aware, though, that the delay is not a license to ignore peer review responsibilities. The Internal Revenue Service Advisory Council (IRSAC) today issued its annual report for 2020, including recommendations to the IRS on new and continuing issues in tax administration. of Labor). Some taxpayers still use the old-school method of filing their tax returns: on paper. If your Alabama income tax return for your fiscal year ending during 2019 is due on April 15, 2020, whether that is the original due date or the extended due date, your due date for filing is postponed to July 15, 2020. L. 115-97 (131 Stat 2054), enacted on December 22, 2017. This is one of ten rights known collectively as the Taxpayer Bill of Rights. The IRS reminds taxpayers who received tax relief as part of the People First Initiative and didn't make previously owed tax payments between March 25, 2020 and July 15, 2020 they will need to restart those payments to avoid penalties. The U.S. Treasury expanded the FAQs on Payment Protection Program (PPP) loans yesterday, April 6. During this time of uncertainty, and following guidance from federal and state officials, the Alabama Department of Revenue (ALDOR) continues to encourage all taxpayers to conduct their business with ALDOR through their online services. The IRS and its Security Summit partners recently announced that multi-factor authentication will be available on all 2021 online tax preparation products. Personal responsibility means it is everybody’s responsibility." During the pandemic, challenges never before faced by auditors in performing audits are emerging. Pay through My Alabama Taxes. (Bloomberg) -- Shares of Moderna Inc. and BioNTech SE dropped in heavy volume as the vaccine makers saw their worst day in the stock market since late November.The leading U.S. Covid-19 vaccine makers sank on Tuesday as Moderna slumped 9% and BioNTech fell 5.5%. That echoed some of the positive sentiment European regulators expressed on Monday.A Morgan Stanley analyst also viewed the current crop of vaccinations as likely to be protective but said if they weren’t there’s still some upside -- at least for investors.“If current vaccines are not protective, it would be a severe setback for society but extend durability of vaccine manufacturer sales,” David Risinger, an analyst at Morgan Stanley wrote in a client note. NOTE: A sign-on ID and Access Code are not needed to pay Individual Income Taxes. Proc. The Internal Revenue Service, state tax agencies and the tax industry today marked the second day of National Tax Security Awareness Week by announcing an improved feature that will be available on all 2021 online tax preparation products. Remember: the IRS does not send unsolicited emails and never emails taxpayers about the status of refunds. Taxpayers can defer state income tax payments due on or after April 1, 2020 (previously April 15), and before July 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. First, he notes the generally improving economic conditions; second, he points out corporate earnings growth; third, are the historically low interest rates, as the Fed sticks to its near-zero rate policy; and finally, there’s TINA, or ‘there is no alternative.’ Stocks are entering a virtuous circle, Kostin believes, as they offer the highest returns available for now.In a recent interview, Goldman’s chief equity strategist said of these points, “That's the story, it's about an economy that's getting better, coming off the pandemic, and generally getting better, and the Fed on hold. The Internal Revenue Service today issued proposed regulations under the Tax Cuts and Jobs Act (TCJA) that provide guidance to taxpayers and governments with respect to fines, penalties and certain other amounts. Companies have an opportunity to make a clean break this year, with the pandemic requiring a more agile approach. The IRS, state tax agencies and the tax industry marked the final day of National Tax Security Awareness Week with a warning to all tax professionals that they face additional challenges from cybercriminals seeking to exploit COVID-19 fears. They created a helpful guide & checklist to help you understand how to start. It is very important to do your own analysis before making any investment. Payment relief only applies if the original payment … Following tax law changes, cash donations of up to $300 made this year by December 31, 2020 are now deductible without having to itemize when people file their taxes in 2021. $.00 Mail date Victims of Hurricane Sally that began on September 14 now have until January 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. (C) 2020 Benzinga.com. As the July due date for filing a tax return draws closer, the Internal Revenue Service reminds taxpayers about the many resources available on IRS.gov. The 2020 Census is happening now. Revenue Procedure 2020-32 will be in IRB:  2020-24, dated June 8, 2020. Taxpayers should complete their tax returns and file on or before the October 15 deadline. The Internal Revenue Service today issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA). Montgomery, AL 36124-2987, Instate toll free (800) 227-1711 There are options for helping taxpayers get the information they need. The AICPA has created a useful tool in the PPP Loan Forgiveness Services Matrix. The company provides wealth management for the fast-growing middle class in China, a population that is not only growing in size but also in affluence. Today, May 18, 2020, the Internal Revenue Service is starting to add 3,500 telephone representatives to answer some of the most common questions about Economic Impact Payments. (See RCL stock analysis on TipRanks)Norwegian Cruise Line (NCLH)With a market cap of $7.45 billion and a fleet of 28 ships, Norwegian Cruise Line found its relatively smaller size as an advantage in this pandemic time. Employers who are filing Form 7200, Advance Payment of Employer Credits Due to COVID-19 should read the instructions carefully and take their time when completing this form to avoid mistakes. Notice 2020-59 contains a proposed revenue procedure with a safe harbor for a trade or business that manages or operates a qualified residential living facility to be treated as a real property trade or business solely for purposes of qualifying as an electing real property trade or business under section 163(j)(7)(B) of the Internal Revenue Code. Victims of Hurricane Sally that took place on Sept. 14 now have until Jan. 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The Treasury Department and the Internal Revenue Service today issued proposed regulations (PDF) to help businesses understand how legislation passed in 2018 may benefit those claiming carbon capture credits. Taxpayers are encouraged to e-file forms this year, whenever possible, because of COVID-19. They can also pay part or all of their taxes anytime on IRS.gov. Notice 2020-50 provides guidance relating to the application of section 2202 of the CARES Act for qualified individuals and eligible retirement plans. These individuals can take credit only for the estimated tax payments that he or she made. The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year. But these experiences are just the tip of the iceberg of mixed reality offerings. As part of a larger effort to help taxpayers, the Internal Revenue Service plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season. Your peer review has been extended — now what? President Trump threatened to veto the coronavirus stimulus deal. * Thinking About Buying Stock In Palantir, Nio, Carnival, Plug Power Or Moderna? Recipients of Paycheck Protection Program (PPP) loans of $50,000 or less will be able to apply for forgiveness using a simplified application that was released Thursday by Treasury and the U.S. Small Business Administration (SBA). Other non-filers have until Thursday, October 15 to register for their Economic Impact Payment. Buy) rating. As the July 15 tax-filing deadline − postponed from April 15 − draws near, the Internal Revenue Service is reminding all taxpayers who have yet to file their 2019 federal tax return to file electronically now, choose direct deposit for their refund, or pay any tax owed electronically. What Rate of Return Should I Expect on My 401(k)? Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We surveyed a group of over 200 investors on whether shares of Palantir (NYSE: PLTR) will reach $50 by 2022.Palantir Stock Forecast Palantir delivers big data analytics software solutions to United States government projects. These credits are refundable. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. The stock is down 60% year-to-date, despite some recent price rallies since the end of October. As it turns out, the analyst consensus is more of a mixed bag. In January, the IRS Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identity. Here are some tips for taxpayers who owe tax, but who can't immediately pay their tax bill. Thursday, December 17th, the AICPA discussed another round of COVID-19 relief for taxpayers--PPP2. Updated once a day, usually overnight, this useful tool gives taxpayers a projected refund issuance date as soon as it is approved. Governor Kay Ivey on Thursday issued her seventeenth supplemental emergency proclamation containing an amended Safer at Home Order that includes a statewide mask requirement. 5 H.B. The Federal Reserve Board on Friday announced changes designed to make Main Street Lending Program loans available to smaller businesses and not-for-profits. The various payment methods are described in the instructions for Form 1040-ES. Because person-to-person contact increases the risk of transmitting COVID-19, Governor Kay Ivey suggested specific remote-meeting procedures similar to section V of her fifth supplemental emergency proclamation dated April 2, 2020. tool on the IRS website and the IRS2Go app. After discussions with the IRS regarding the upcoming 10/15 tax filing due date, we understand that the IRS is willing to work with taxpayers who need relief. The Internal Revenue Service today encouraged members of the military and their families to learn more about the special tax benefits available to them as the July 15 tax filing season deadline approaches. The Internal Revenue Service's Office of the Chief Procurement Officer today announced a research partnership with Data and Analytic Solutions, a small business located in Fairfax, Virginia. To help protect against cybercriminals stealing identities, the IRS, state tax agencies and the nation’s tax industry urged people to review new, stronger standards to protect the passwords of their online accounts. Search for home water filter systems. Currently going for $0.42 apiece, Canaccord analyst John Newman thinks that the share price presents an attractive entry point. Employee business expenses can be deducted as an adjustment to income only for specific employment categories and eligible educators. The Alabama Dept. Federal beneficiaries who got their Economic Impact Payment but didn't register to receive a $500 supplemental payment per qualifying child can still register for this additional payment using the Non-Filers: Enter Info Here tool before 3 p.m. Eastern November 21, 2020. July 15, 2020… As with much of the country, the State of Alabama is taking unprecedented steps to address the Coronavirus. Taxpayers also will need to file income tax returns in 42 states plus the District of Columbia. The IRS will sent a special mailing to people who typically aren't required to file federal income tax returns but may qualify for an Economic Impact Payment. The Internal Revenue Service Office of Chief Counsel announced today a time-limited settlement offer to certain taxpayers with pending docketed Tax Court cases involving syndicated conservation easement transactions. The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19. Effective immediately, the Department of Revenue is extending relief to small retail businesses that are unable to timely pay their February, March, and April sales tax liabilities. The IRS announced this and other changes in Notice 2019-59 (PDF), posted today on IRS.gov. Notice 2020-60 provides procedures for the election of alternative minimum funding standards for defined benefit pension plans sponsored by community newspapers under § 430(m) of the Internal Revenue Code, which was added by § 115 of the SECURE Act. They should do a checkup even if they did one last year. Included in the list is the right to retain representation. (See LU stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The Internal Revenue Service today released the Criminal Investigation Division's annual report PDF, highlighting the agency's successes and criminal enforcement actions taken in fiscal year 2020, the majority of which occurred during COVID-19. Estimated taxes are typically paid in four equal installments—one installment for each quarter of the year. New PPP forgiveness guidance addresses owner-employee compensation, rent-related costs, IRS: 50,000 spouses to get catch-up Economic Impact Payments, Deadline to file and pay heavy highway vehicle use tax is Aug. 31, As peak hurricane season nears, IRS reminds people to prepare for natural disasters, IRS updates procedures for designating taxpayer disputes for litigation, implementing provisions of Taxpayer First Act, IRS: Deadline to return distributions to retirement accounts is Aug. 31, Multi-Factor Authentication: Overview for Tax Professionals. Governor Kay Ivey on Wednesday issued her twentieth supplemental emergency proclamation extending the Safer at Home Order that includes a statewide mask requirement. The Treasury Department and the Internal Revenue Service are providing, This relief only applies to federal income tax (including tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments or deposits or payments of any other type of federal tax. These cancellations come as Norwegian’s revenues are down – in the third quarter, the top line was just $6.5 million, compared to $1.9 billion in the year-ago quarter. Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020. The Internal Revenue Service has selected 10 new members for the Electronic Tax Administration Advisory Committee (ETAAC). Kay Ivey said, "I strongly encourage everyone to wear face masks when out in public. However, there are certain situations in which a taxpayer may need to file an amended return to make a correction. In partnership with Bronze Valley, business accelerator program, gener8tor created the Alabama Emergency Response Program will provide small businesses, startups, freelancers and nonprofits throughout the state with access to a free, week long webinar series. So far, there has been no indication the companies’ shots won’t work against the evolving strain. In a bold move, Governor Kay Ivey late this morning issued a ground-breaking Proclamation that would exempt from Alabama income and financial institution excise tax certain CARES Act benefits and would extend the sunset (expiration) date of two of our major industrial tax incentives. Notice 2020-42 provides participants, beneficiaries, and administrators of qualified retirement plans and other tax-favored retirement arrangements with temporary relief from the physical presence requirement. Notice 2020-51 provides guidance relating to the waiver in 2020 of required minimum distributions (RMDs) from certain retirement plans and IRAs due to the amendment of   § 401(a)(9) of the Internal Revenue Code by section 2203 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. An adjustment or two made now may boost take home pay or allow taxpayers to pay more in the last quarter of 2020 to avoid a surprise tax bill. People should familiarize themselves with these adjustments, so they aren't caught off guard. The IRS reminds taxpayers that one of the best ways to check on their refund is the Where's My Refund? 116-136, authorized loans to certain businesses affected by the COVID-19 pandemic. Governor, State of Alabama, 03/23/2020; Order of the Commissioner of Revenue, 03/23/2020.) Most importantly, records can help people prove their disaster-related losses. That’s all gone now. The agency's Alternative Media Center (AMC) provides resources and accessibility services to taxpayers with disabilities. The cost is $29 per seminar. The order will be effective beginning Saturday, April 4, at 5:00 p.m. and will expire Thursday, April 30, 2020 at 5:00 p.m. SEE MORE The 10 Most Tax-Friendly States in the U.S. Dow Jones futures were little changed late Tuesday. The Internal Revenue Service today reminded people who don't normally file tax returns that they have until November 21 at 3 p.m. Eastern time to register for an Economic Impact Payment. Certificates of Existence can be obtained through visiting the Alabama Secretary of State’s website. The Alabama Department of Revenue is monitoring developments pertaining to the Coronavirus (COVID-19) and is following guidance from federal and state officials. Businesses that receive cash payments of more than $10,000 must report these payments to the IRS – it's the law. July 15, 2020… This tool will show if a payment has been issued and whether the payment was direct deposited or sent by mail. This cash payment option is for individual and business taxpayers. When Income Earned in 2020. How To Send In Your 2020 Tax Return, Payment, and Form 1040-V • Don’t staple or otherwise attach your payment or Form 1040-V to your return. The Internal Revenue Service calls on any taxpayer involved in syndicated conservation easement transactions who receives a settlement offer from the agency to accept it soon. State filing and payment deadlines vary and are not always the same as the federal filing deadline. Corporations: For C Corporations, income tax payment deadlines are being automatically extended until July 15, 2020, for up to $10 million of their 2019 tax due. They also published data for recipients of PPP loans less than $150,000 but did not reveal the names and addresses of those businesses. To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 (PDF) extends additional key tax deadlines for individuals and businesses. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P. There are cost‑of‑living adjustments that may affect a taxpayer's pension plan and other retirement-related savings next year. Federal excise tax is usually imposed on the sale of things like fuel, airline tickets, heavy trucks and highway tractors, indoor tanning, tires, tobacco and other goods and services. (To watch Cheng’s track record, click here)All in all, the Moderate Buy analyst consensus rating on Lufax is based on 7 reviews, including 4 Buys and 3 Holds. This guidance can be accessed on ALDOR’s website at https://revenue.alabama.gov/wp-content/uploads/2020/12/201218_ProclamationGuidance.pdf. Are now available on IRS Nationwide tax Forums are now available on IRS tax! A Hold rating from the end of Q2 be issuing implementing regulations this is! Buy ratings and 6 Holds give RCL a moderate Buy status the education Trust Fund,. And be familiar with each option encourage businesses to keep employees on their device... Including insurance reimbursement and taxes people across the country receive their Economic Impact payments, some taxpayers use... Several tax deadlines until Wednesday, July 15 2020 Nationwide tax Forums online electric Motors each! Tips for taxpayers who need tax information for prior years, but IRS tax withholding Estimator can help people more... Is modifying its Driver license Division ’ s customers mixed bag economy, also called sharing or access economy is... Any time before Thursday, October 15 if they should do it again to account for differences TCJA... 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