30 Jan 2017 Income Tax Returns are Released

On January 30, 2018, the Puerto Rico Treasury Department (“Treasury”) issued Internal Revenue Informative Bulletins 18-04, 18-05 and 18-06 to announce the release of the Spanish version of the following 2017 income tax returns with their corresponding instructions and schedules:

• Form 482.0 – Individual Income Tax Return
• Form 480.20 – Corporate Income Tax Return
• Form 480.20(EC) –Informative Income Tax Return Pass-Through Entity
• Form 480.6EC – Informative Return – Pass-through Entities
• Form 480.8(F) – Revocable Trust or Grantor Trust Informative Income Tax Return
• Form 480.6 F – Informative Return – Revocable Trust or Grantor Trust
• Form 480.20(CPT) – Employees Owned Special Corporation Informative Tax Return
• Form 480.6 CPT – Informative Return – Employees Owned Special Corporation
• Form 480.10(SC) – Partnership Informative Income Tax Return Composite

These forms are available at www.hacienda.pr.gov.
 

Also, the Treasury informed that, for the first time, there will be an option to file the 2017 Corporate Income Tax Return by electronic means. Details of such electronic filing will be published promptly.

EDITORIAL COMMENT:

No mention is made of a Federal Tax Credit that might be extended to Puerto Rico.