Overwhelmingly, 80% of readers told us shares of FuelCell would reach $20 per share by the end of 2021.Many respondents suggested the Biden administration's embrace of clean energy will provide favorable business conditions for FuelCell in the coming years, providing strength to the electric vehicle, fuel cell and biogas industries at large.See Also: Best Index Funds.This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. With 159 million Economic Impact Payments processed, the Internal Revenue Service reminds many low-income Americans who don't usually file tax returns to register for a payment by October 15. Following the recent disaster declaration for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in certain areas will receive tax relief. These credits reduce the amount of tax someone owes. Instead, just put them loose in the envelope. The deadline to file and pay heavy highway vehicle use tax is Monday, August 31. Though the first round of Paycheck Protection Program funding is spent, Congress is working to ensure small businesses get what they need during the shutdown. School may look a little different this year, but eligible teachers and other educators can still deduct certain unreimbursed expenses on their tax return next year. The Internal Revenue Service today provided guidance for employers whose employees forgo sick, vacation or personal leave because of the COVID-19 pandemic. The Taxpayer Certainty and Disaster Tax Relief Act, passed on December 20, 2019, includes several provisions that may apply to tax-exempt organizations' current and previous tax years. 2020-16 -- Sept. 2020 Applicable Federal Rates (AFR), Now available: IRS Form 1040-X electronic filing, IRS takes new steps to ensure people with children receive $500 Economic Impact Payments, RP-2020-39: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability, AICPA requests guidance on payroll tax deferral, Taxpayers must pay no more than the correct amount of tax, IRS reminds truckers of Aug. 31 highway use tax return deadline; e-file encouraged, N-2020-60: Election of Alternative Minimum Funding Standards for Community Newspaper Plans, Global Disruption of Three Terror Finance Cyber-Enabled Campaigns, Using the Tax Withholding Estimator will help taxpayers avoid surprises next year, A-2020-14: Changes to User Fees for Certain Letter Ruling and Determination Letter Requests Submitted to Employee Plans Rulings and Agreements, Effective January 4, 2021, New PPP guidance addresses health insurance, EIDL, other issues, Pandemic-related FAQs for health care entities, Financial safety is an important part of disaster preparedness, Working Virtually: Avoid phishing scams; Part 4 of Security Summit tips for tax professionals, Good recordkeeping is an essential element of tax planning, Executive order delays workers’ payroll tax payments, Joint Board announces temporary waiver of ‘physical presence’ education requirement for enrolled actuaries, N-2020-62: Safe Harbor Explanations – Eligible Rollover Distributions, N-2020-61: Special Funding and Benefit Limitation Rules for Single-Employer Defined Benefit Pension Plans under the CARES Act, N-2020-55: Relief for Taxpayers Affected by Ongoing Coronavirus Disease Pandemic, Related to Sport Fishing Equipment and Bows and Arrows Excise Tax Filing and Payment Deadlines, Here’s what taxpayers need to know about the home office deduction, Frequently Asked Questions on PPP Loan Forgiveness, Dirty Dozen part 2: Thieves are constantly coming up with ways to scam taxpayers, Dirty Dozen part 1: Taxpayers should be on the lookout for these scams, Working Virtually: Use a virtual private network to secure remote locations; Part 3 of Security Summit tips for tax professionals, What taxpayers should do if they get a letter or notice from the IRS, Governor Ivey Announces $50 Million Grant Program for Nonprofit and Faith-Based Organizations, IRS grants additional relief for rehabilitation credit deadlines, IRS issues proposed regulations for TCJA’s simplified tax accounting rules for small businesses, IRS issues final regulations and other guidance on business interest expense deduction limitation, IRS: New law provides relief for eligible taxpayers who need funds from IRAs and other retirement plans, Employers should consider filing payroll taxes electronically, Working Virtually: Use multi-factor authentication to protect accounts; Part 2 of Security Summit tips for tax professionals, Special tax benefits for members of the military and their families, IRS provides guidance on recapturing excess employment tax credits, How to Create a Virtual Office: Two Big Ideas, Attention teachers: Those school expenses might be tax deductible, Pandemic teleworking causes state tax withholding issues, ASCPA President & CEO Calls for Federal Relief, How taxpayers can troubleshoot common after-tax-day issues, IRS creates new Enterprise Digitalization and Case Management office; Smith, Abold-LaBreche to serve as co-directors, RP 2020-36: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability, IRS reminds businesses filing cash transaction reports about e-file option; batch filing now available, Working Virtually: Protect tax data at home and at work with the "Security Six", All taxpayers should know the telltale signs of common tax scams, Treasury, IRS issue final and proposed regulations on income subject to a high rate of foreign tax, Extension filers: Tax help is always available on IRS.gov, ASCPA Legislative Update: Accounting Profession Provides Congress with Six Recommendations for Next Phase of COVID-19 Relief Legislation, What someone should do if they missed the July 15 deadline to file and pay, IRS advice for those who missed the July 15 deadline, file now to avoid bigger bill, IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law, Security Summit focuses on tax pro security during coronavirus; new series on working virtually: protecting tax data at home and at work, IRS unveils "Dirty Dozen" list of tax scams for 2020; Americans urged to be vigilant to these threats during the pandemic and its aftermath, How taxpayers can quickly and easily check their refund status, N-2020-56: Additional Relief with Respect to Deadlines under Section 501(r)(3) Applicable to Hospital Organizations Affected by the Ongoing Coronavirus Disease 2019 Pandemic, IRS provides additional relief for tax-exempt hospitals: Deadline for completing certain needs assessment requirements moved to Dec. 31, Tax returns are due today; taxpayers who can’t pay should still file today, ‘Where’s My Refund?’ tool on IRS.gov takes guesswork out of when to expect refunds, IRS is sending letters to those experiencing a delay with advance payment of employer credits, Special Report: Primary Election Run-offs & Updated Statewide Health Order, IRS announces 2021 PTIN fees for tax return preparers, Major changes to retirement plans due to COVID-19, IRS reminder: Taxpayers can get an extension to Oct. 15 to file taxes. make joint estimated tax payments. The Internal Revenue Service today launched a redesigned page on IRS.gov to help business owners navigate the federal tax steps when closing a business. With heightened threats during COVID-19, the Internal Revenue Service and Security Summit partners today called on tax professionals to select multi-factor authentication options whenever possible to prevent identity thieves from gaining access to client accounts. Taxpayers should be on the lookout for new variations of tax-related scams. 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. (C) 2020 Benzinga.com. In this episode, Toni Lee-Andrews, director of the AICPA Professional Ethics Division, talks about the PPP and ethics with Ellen Goria, our associate director, and Iryna Klepcha, an independence and behavioral manager who has been on our hotline fielding your questions. Note: The first line of the address should be Internal Revenue Service Center. 5 H.B. The Internal Revenue Service has released its newly-revised tax guide, designed to help members of the military understand the many special tax benefits available to them under the law. 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. National Taxpayer Advocate Erin M. Collins today released her first report to Congress, identifying taxpayer challenges arising from the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the IRS's implementation of the Taxpayer First Act as priority issues the Taxpayer Advocate Service (TAS) plans to focus on in the coming year. In separate guidance, the SBA extended the safe harbor for returning PPP loans from May 14 to May 18. Help is available for taxpayers who need tax information for prior years, but who didn't keep copies of their returns. 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. Governor Kay Ivey on Thursday issued an amended Safer at Home Order to be applied Statewide. This new interim rule applies to loan forgiveness applications submitted under the PPP. For these people, now is the time to switch and file electronically. 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. Personal responsibility means it is everybody’s responsibility." You can respond online, by phone, or by mail. Ivey also said hospitals and nursing homes will now be allowed to admit one visitor per resident or patient, a change from previous orders. The Internal Revenue Service today unveiled the 2019 IRS Data Book, featuring a redesigned format that provides a different and expanded look at IRS accomplishments during the past year. As it turns out, the analyst consensus is more of a mixed bag. More information is available at, https://www.taxadmin.org/state-tax-agencies, COVID-19 relief bill addresses key PPP issues, ALDOR Issues Guidance for Emergency Tax Relief Measures, AICPA discusses PPP2 in the latest town hall meeting, Initial Observations to CARES Act Provisions layered with Governor Ivey’s Proclamation, HILL TAX BRIEFING: Bipartisan Group Floats Route to Aid Deal, Most taxpayers can deduct up to $300 in charitable contributions without itemizing deductions, Governor Ivey Signs Emergency Proclamation to Address Tax and Economic Development Issues Delayed Due to COVID-19 Pandemic, ALDOR Updating Instructions and Guidance for Certain Returns, Surprise Proclamation Exempting CARES Act Benefits and Extending Sunset Dates on Two Major Tax Incentives, IRS: Volunteers needed for free tax prep help, Governor Ivey Extends Safer at Home Order, IRS provides guidance on legislation that increases automatic enrollment cap percentage and eases burdens for certain safe harbor plans, IRS has begun sending letters to taxpayers that may need to take action related to Qualified Opportunity Funds, Treasury and IRS issue final regulations on the deduction for qualified transportation fringe and commuting expenses, Identity Protection PIN Program will soon be available to taxpayers nationwide, Get Ready for Taxes: What’s new and what to consider when filing in 2021, Internal control focus critical as a result of pandemic changes, IRS warns people about a COVID-related text message scam, Highlights from the 2020 National Tax Security Awareness Week, AICPA and trade associations ask Congress to fix PPP loan deductibility, National Tax Security Awareness Week, Day 5: Security Summit alerts tax professionals to potential telework scams during COVID-19, urges all practitioners to use multi-factor authentication. The cost is $29 per seminar. The clock just started on the biggest financial event in 20 years. The Department of the Treasury and the Internal Revenue Service today issued final regulations clarifying the reporting requirements generally applicable to tax-exempt organizations. The AICPA Peer Review Board (PRB) has granted CPA firms with original due dates between Jan. 1 and Sept. 30 a six-month peer review deadline delay option to provide them with relief during the coronavirus pandemic. Today, the agency added several more forms (PDF) to that list. Gov. 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. The six month extension will be granted automatically for filing the Business Privilege Tax return. The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching. Today, 2019 tax returns are due. Fortunes will be made and lost. 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). The Internal Revenue Service today set November 10 as "National EIP Registration Day," as the agency and partners across the country launch a final push to encourage everyone who doesn't normally file a tax return to register to receive an Economic Impact Payment. Any eligible self-supporting college student who doesn't need to file a tax return should register using the Non-Filers tool by 3:00 p.m. July 15, 2020. Alabama Department of Labor Secretary Fitzgerald Washington announced today Alabama has begun paying the Federal Pandemic Unemployment Compensation (FPUC) benefit that was established with the passing of the federal CARES Act on March 27, 2020. But these experiences are just the tip of the iceberg of mixed reality offerings. The Internal Revenue Service today urged anyone who doesn’t normally file a tax return and has not yet received an Economic Impact Payment (EIP) to take advantage of “National EIP Registration Day,” on Tuesday, November 10. These stocks are priced low, under $5 per share, and low prices usually happen for a good reason. There are options for helping taxpayers get the information they need. The AICPA State Regulation & Legislation Team is continuing to track updates and changes that affect state regulations, to help as things change by the day/hour/minute. Small businesses whose monthly retail sales during the previous calendar year averaged $62,500 or less may file their monthly sales tax returns for the February, March, and April 2020 reporting periods without paying the state sales tax reported as due. The company did end the third quarter with over $8 billion in available cash, an impressive resource to face the difficult situation.This combination of strength and weakness led Montour to put a Neutral (i.e. 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. 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. The 2020 Census is happening now. 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 Proc. Gov. The Department of Treasury and Internal Revenue Service issued guidance (PDF) implementing the Presidential Memorandum issued on August 8, 2020, allowing employers to defer withholding and payment of the employee's portion of the Social Security tax if the employee's wages are below a certain amount. IRS.gov has answers to many questions people may have about their Economic Impact Payment. Alabama Society of CPAs The Internal Revenue Service continues to look for ways to help people who were unable to provide their information in time to receive Economic Impact Payments for their children. With the July 15 tax deadline now past, the Internal Revenue Service reminds all taxpayers that there is no secret way to find out when a refund will be issued. The IRS urges taxpayers to check with their state tax agencies for those details. A Paycheck Checkup can help you see if you’re withholding the right amount of tax from your paycheck. The AICPA on Wednesday sent a letter to Treasury and the IRS requesting guidance on the recent presidential memorandum deferring some employee payroll taxes until next year. The company closed on $850 million in senior notes, at 5.875% and due in 2026, during November, and earlier this month closed an offering of common stock. of Labor). The Treasury Department and the IRS today released a proposed redesigned partnership form for tax year 2021 (filing season 2022). (See PTN stock analysis on TipRanks)Mustang Bio (MBIO)Mustang Bio is another clinical phase biopharmaceutical company. Please help alert Alabama's small business owners by sharing this letter from Governor Kay Ivey and Paycheck Protection Information as quickly as possible. The company boasts annual revenues in excess of $11 billion.Through its subsidiaries, Liberty serves over 11 million customers with a combined 25 million subscriptions to broadband internet, TV, and telephone services. The agency's Alternative Media Center (AMC) provides resources and accessibility services to taxpayers with disabilities. Finally, unless you live in a state with no income tax, you probably owe estimated tax payments to your state, too. That presents an opportunity. If at least two-thirds of your gross income is from farming or fishing, you can make just one estimated tax payment for the 2020 tax year by January 15, 2021. (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. Senators voiced their strong support for a tax filing deadline extension. In order to be eligible for this federal aid, some corporations and businesses may be required to prove their existence as part of their application. Governor Kay Ivey on Tuesday issued a Safer at Home order to be applied Statewide. 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 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. Meanwhile, the stock is selling for $69.58 per share, slightly above the $68.22 average price target. Fortunately, the child and dependent care credit can provide some relief. Form 40ES is an estimated tax worksheet that will allow you to calculate your estimated quarterly income tax payments. The Internal Revenue Service today issued Notice 2020-86 PDF addressing certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) affecting safe harbor plans, including safe harbor 401(k) plans and certain 403(b) plans. Taxpayers interacting with the IRS have the right to finality. BioNTech says its vaccine will likely be effective in inoculating against the new virus strain discovered in Britain, tests against the new variant should take about two weeks. A key achievement was the identification of over $10 billion in tax fraud and other financial crimes. Not paying estimated taxes when you need to can result in penalties. In accordance with Governor Kay Ivey’s 21st Supplemental State of Emergency Proclamation, the Alabama Department of Revenue (ALDOR) has issued guidance for taxpayers and employers regarding the tax relief measures included in the Governor’s proclamation. Starting in January, the IRS will allow all individuals to receive an identity protection personal identification number (IP PIN). This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020. The Internal Revenue Service issued final regulations PDF that provide guidance for decedents' estates and non-grantor trusts clarifying that certain deductions of such estates and non-grantor trusts are not miscellaneous itemized deductions. Currently, the IRS is experiencing delays in processing paper tax returns due to limited staffing as a result of COVID-19. Listen as they untangle some of the complications that can arise when you help your attest clients with this federal program. The Internal Revenue Service reminds the nation's more than 780,000 active tax return preparers to start the upcoming 2021 filing season smoothly by renewing their Preparer Tax Identification Numbers (PTINs) now. Not to mention, both boast a “Strong Buy” consensus rating.Palatin Technologies (PTN)We'll start with Palatin Technologies, a biopharmaceutical company with a unique niche and a competitive advantage. Businesses have struggled for years to control and track the movement of data throughout the organization. If you owe additional taxes during the year, you may have to pay estimated tax on the upcoming year. It's the IRS's goal to help all taxpayers, no matter where they live, their background or what language they speak. The Internal Revenue Service today reminded the self-employed, investors, retirees and others with income not subject to withholding that third quarter estimated tax payments for 2020 are due September 15. The usual deadline is June 15. Tax year 2019 returns due on April 15, 2020, and related payments of tax or installments of tax, including installments of estimated taxes for the 2020 tax year, will not be subject to any failure to file, failure to pay, late payment, or underpayment penalties, or interest if filed and paid by July 15, 2020. The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. 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. 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. The July deadline for filing a 2019 tax return is near, but IRS tax help is available 24 hours a day on IRS.gov. The Internal Revenue Service announced today the opening of the application period for the 2021 Compliance Assurance Process program. This new date will provide an additional five weeks beyond the original deadline. Because of the burdens the COVID-19 pandemic has placed on hospitals, the Internal Revenue Service today provided additional relief to hospital organizations that must meet the Community Health Needs Assessments (CHNA) requirements. Although Palantir has yet to turn a financial profit in its 17-year history, Benzinga readers see Palantir leadership, including co-founder and CEO Alex Karp, accelerating revenue growth in the near-term.See Also: Top 10 Blue Chip Stocks.This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. Cybercriminals stepped up their attacks on tax professionals during 2018, prompting the Internal Revenue Service and the Security Summit partners to urge practitioners to take steps to protect client data and their computer networks from these threats. The Internal Revenue Service today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Starting tomorrow, July 16, 2020, the Statewide Health Order will be updated to require people to wear a mask in public. Additionally, as warranted, the Department will continue to provide compliance assistance to employers and employees on their responsibilities and rights under the FFCRA. There have been warnings issued by government agencies related to cybercriminals targeting businesses that are turning on remote access to their systems in order to help with business continuity. As the tax-filing deadline fast approaches, the Internal Revenue Service reminds taxpayers with limited English proficiency and who have yet to file their 2019 tax returns that there are a variety of ways to get help and information in languages other than English. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax … The difficulties faced by restaurants are getting more press, but for the cruise industry, corona has been a perfect storm.Prior to the pandemic, the cruise industry – which had been doing $150 billion worth of business annually – was expected to carry 32 million passengers in 2020. For many organizations, the coronavirus pandemic has led to significant changes in day-to-day operations, working environments, and internal controls. On August 28, the IRS announced that it would temporarily allow the use of digital signatures on certain forms that cannot be filed electronically. Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020. Consider taking the home office deduction allows qualifying taxpayers to be applied statewide do have! § 3608 of the GM ’ s recent executive action will allow you be. 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