Author: Galíndez LLC

15 Feb Waiver Certificate from Withholding Tax at Source for Services Rendered

Posted at 10:10h in News

On December 4, 2018, the PRTD, issued Internal Revenue Circular Letter Number 18-15, to establish a new procedure for the issuance of Total or Partial Waiver Certificates (“Waiver Certificate”).   Automatic Waiver Certificate – Taxpayers with an active account in the Internal Revenue Unified System or...

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15 Feb Time Extension for Employee Retention Benefit for Hurricanes Irma and Maria

Posted at 10:00h in News

The PRTD issued Internal Revenue Circular Letter 18-20 (“IRCL 18-20”) on December 28, 2018, to notify the procedure in which an Eligible Employer may file a claim with the PRTD regarding the benefit requested. Eligible Employers who timely requested the benefit but have yet not...

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04 Feb Automated Clearing House (ACH) Credit File Specifications for SURI Payments

Posted at 10:00h in News

The PRTD issued Publication 06-06 on January 29, 2019, to notify taxpayers about the new specifications for ACH Credit payments. With the integration of additional taxes into the SURI system, new payment types will be available through the ACH Credit mechanism.  For more detail, you...

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03 Feb Moratorium of Payment Plans for Employees of US Federal Government Affected by the Shutdown

Posted at 10:00h in News

The PRTD issued the Internal Revenue Circular Letter Number 19-01 on January 23, 2019, to approve a moratorium on the payment plans with the PRTD for those federal employees affected by the closure of the Federal Government (“Affected Taxpayer”).  Accordingly, the Affected Taxpayer will not...

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01 Feb 2018 Non-Withholding Agents Annual Report Due Date Postponement

Posted at 10:00h in News

Pursuant to Section 4041.03 of the PR Code, every merchant who is not a withholding agent for sales and use tax (“SUT”) purposes shall send a notice, on or before January 31 of each year, to all Puerto Rico purchasers who acquired merchandised from said...

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01 Feb 2019 Applicable Limits for Qualified Retirement Plans under §1081.01(a) of the Code

Posted at 00:00h in News

On December 31, 2018, the PRTD issued Internal Revenue Circular Letter 18-21, to notify the applicable limits to qualified retirement plans for the tax year 2019. For more detail on such limits, please use the following link: [button size='' style='' text='LEARN MORE' icon='' icon_color='' link='http://hacienda.pr.gov/publicaciones/carta-circular-de-rentas-internas-num-18-21-cc-ri-18-21'...

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05 Jun Employee Retention Credit for Employers Affected by Hurricanes Irma and María

Posted at 00:00h in News

* Certain requirements and conditions apply. Please see below for more information. ** Portal was supposed to be available as of June 1, 2018; however, it is not operational yet. We understand it shall be available in the next following days.   Background The Disaster Tax Relief and Airport...

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03 Apr Treasury Provides Guidelines for Extension and Waiver of Penalties

Posted at 00:00h in News

The Treasury Department (the “Department”) issued Administrative Determination No. 18-07 (the “Determination”). The Determination basically discusses two items. First, it extends the automatic extension terms from three to six months. Second, it provides some guidelines to request the waiver of additions to the tax for...

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05 Mar Treasury Issues Guidelines to Report Losses for Tax Purposes

Posted at 00:00h in News

Treasury issued Administrative Determination 18-05 (“Determination”), which provides how individuals will claim any losses suffered as consequence of Hurricane María. The determination is aimed at individual losses not related to a trade or business. In the case of individuals the Puerto Rico Internal Revenue Code of...

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02 Mar Extension to File Informative Returns Approved

Posted at 00:00h in News

On March 1, 2018, the Treasury issued Informative Bulletin 18-08 (“the Bulletin”) with the purpose of extending the due date for the Informative Returns (Declarations) for the 2017 tax year, until March 6, 2018.   The extension covers only the Declarations indicated below: Form 480.6A "Informative Return...

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